Stocks enjoyed another winning week, despite a pullback last Friday. Overall, investor sentiment remained optimistic due to continued expectations of an interest rate reduction by the Federal Reserve next month.
Wall Street rebounded from the previous week’s sell-off. Stocks jumped higher last Monday, aided by major dip-buying.
The U.S. stock market endured a significant downturn last week, largely due to unexpectedly weak hiring data (see below) and the imposition of new tariffs by President Trump.
The stock market last week had a mixed performance across major indexes, largely influenced by corporate earnings reports and ongoing discussions around trade tariffs.
Stocks began last week mostly lower on mixed bank earnings and rising inflation data.
Last week, the Trump administration sent letters to dozens of trading partners informing them of country-specific reciprocal tariff rates ranging from 20% to 50%.
Stocks advanced notably during the Fourth of July holiday-shortened week.
Wall Street has come a long way from an April sell-off as investor optimism over trade agreements and a cooling of tensions in the Middle East helped lift stocks to record highs last week.
Stocks closed the week with mixed results as investors weighed the escalating tensions in the Middle East against the likelihood of the Federal Reserve cutting interest rates amidst an apparent disagreement between Federal Reserve governors.
Unrest in the Middle East dragged stock values lower last week, while pushing gold and crude oil prices higher.
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