Weekly Market Bullets

for the week ending 7/24/2026

• US Equity Markets declined last week amid rising energy prices from the escalation of tensions in the Middle East and concerns about the cost of the AI buildout that weighed on technology stocks. The S&P 500 fell 0.6% for the week and is now up 8.3% for the year. The Nasdaq was down 2.1% for the week to bring its gains for the year to 7.5%, while the Russell 2000 (small cap stocks) dropped 1.1% for the week and is now up 18.1% for the year.

• Global Equity Markets increased last week with better-than-expected economic data out of Europe and some emerging markets benefiting from higher commodity prices. Developed Markets rose 0.3% for the week and are now up 7.8% for the year. Emerging Markets were up 0.5% for the week to bring their gains for the year to 15.9%.

• Energy Prices rose sharply last week, stoking inflation concerns and causing rates to increase. The price of oil closed at $90.47/barrel last week, up 10.6% for the week given rising tensions in the Middle East. As a result, the yield on the US 10-Year Treasury closed the week at 4.68% vs. 4.55% the prior week, its highest level in over a year. Investors are now pricing in two Fed rates hikes for the balance of the year, with the first hike likely in September.

• The Yield on the US 30-Year Treasury has been above 5% for its longest period in quite some time. The yield on the 30-Year Treasury closed last week at 5.16% which, aside from a brief spike in May earlier this year, is the highest weekly close since 2007. The 30-Year has been above 5% for 14 consecutive days which, according to Strategas Group, represents the longest streak since a 44-day run in 2007 and an 82-day run in 2006.

Market Data

for the week ending 7/24/2026