Stocks pushed higher last week, with U.S. indices outperforming international markets—led by small- and mid-cap stocks. Meanwhile, the S&P 500 closed at its seventh all-time high of the year, advancing 1.8% on the week.
U.S. Treasury yields rose sharply after a better-than-expected jobs report on Thursday. Shorter-dated bond yields climbed the most, reflecting reduced expectations for rate cuts in 2025.
Market focus during the week centered on the narrowly passed reconciliation bill and June’s employment data, which showed 147,000 new jobs and a decline in the unemployment rate to 4.1%.
A look ahead
This week’s spotlight will be on the July 9 U.S. tariff deadline, marking the end of a 90-day pause on a sweeping set of tariffs introduced in April. Earnings season also kicks off, with three S&P 500 companies set to report second quarter earnings.
With a relatively light schedule of U.S. economic data releases, investor attention may pivot toward key economic indicators out of Europe and several central bank policy meetings globally.
Economic releases: Consumer Credit, June Federal Reserve (Fed) Meeting Minutes, Small Business Optimism.
Our full report is reserved for clients only. Let’s work together.
A caring advisor can help you uncover opportunities and take on challenges—and provide greater confidence, clarity, simplicity, and direction.
