Weekly Stock Market Update & SPY Technical Analysis The Volatility Index (VIX) spiked last week after the Federal Reserve decided to keep interest rates unchanged, pushing back against pressure from President Trump to cut them. Fed Chair Jerome Powell followed the announcement with a speech that struck a cautious tone, citing ongoing concerns about inflation and the economic impact of tariffs. His remarks added to investor uncertainty and triggered profit-taking across the broader market. Adding to the pressure was the latest Personal Consumption Expenditures (PCE) index, the Fed’s preferred inflation gauge, which ticked up for the second consecutive month. Rising inflation typically undermines the case for rate cuts, yet the probability of a cut at the September meeting remains high,...
Weekly Stock Market Update & SPY Technical Analysis Markets are getting ready to wrap up a very successful July, but the week ahead may be crucial to projecting how August’s sentiment will be. Between key economic data, tariff deal deadlines, and earnings reports from several large cap companies, markets have an important week ahead that could reinforce them at these record highs or make way for a pullback across overstretched names. On the economic front, here are the reports in focus: Q2 GDP Data (Wed) FOMC Interest Rate Decision (Wed) Fed Chair Powell Press Conference (Wed) PCE Inflation Index (Thu) U.S. Unemployment Rate (Fri) Consumer Sentiment (Fri) The combination of these reports may seem scary, but it’s actually welcomed by...
Weekly Stock Market Update & SPY Technical Analysis From major earnings to key economic data, markets powered through last week’s benchmarks and posted more record highs. Earnings from major financial institutions like JPMorgan, Bank of America, and Wells Fargo reflected solid economic health based on loan and spending activity. However, some early signs of slowing or tighter lending emerged from certain banks. While it’s not yet time to raise red flags, investors should watch for further indications that consumer borrowing power is being squeezed by high interest rates. Also in last week’s earnings, both Netflix and TSMC surpassed expectations. These two are the first large-cap tech names to report and have set a high bar for others. This week, attention...
Weekly Stock Market Update & SPY Technical Analysis The S&P 500 and Nasdaq 100 reached new record highs again last week but retreated on Friday following a new tariff announcement on Canada. Over the weekend, Trump also announced tariffs on Mexico and the European Union, likely out of frustration that his July 9th trade deal deadline couldn’t be met. All of these new tariffs are set to take effect on August 1st, the new deadline implemented by the Trump administration. The market had been riding high going into last week in anticipation of finalized trade deals, but these new developments reintroduced uncertainty for investors. Even the expectation that “peace” between Israel and Iran had been achieved is now back in...
Weekly Stock Market Update & SPY Technical Analysis Markets reached new record highs last week, with the S&P 500 and the Nasdaq leading the way. Investor sentiment is now at “extreme greed” as we enter the week of the July 9th trade deal deadline, which places pressure on policymakers to finalize deals with other countries. White House advisors have already released some statements saying that some trade deals will miss the deadline, perhaps prepping markets for the worst case scenario of that the deadline will be pushed back. Any sudden surprises could easily cause traders to take some profits and scale back. Trade deals aren’t the only drivers of the market so far this month. Last week, investors celebrated another...
