The Weekly Update
Week of July 13th, 2026
By Christopher T. Much, CFP®, AIF®
Stocks largely advanced over a V-shaped week as the AI trade, led by chip stocks, pushed the S&P 500 and Nasdaq averages higher amid renewed conflict.
The Standard & Poor’s 500 Index rose 1.23 percent, while the Nasdaq Composite Index advanced 1.74 percent. The Dow Jones Industrial Average declined 0.50 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, lost 1.42 percent.
Tech-Led Rise Past Geopolitical Concerns
Stocks rose to start the week, with the Dow hitting another record close and the Nasdaq climbing more than 1 percent as investors shook off valuation concerns that plagued AI stocks over the past few weeks.
The Dow hit a new intraday high on Tuesday before its two-day slide, along with the S&P 500 and Nasdaq, through the week’s lows midday Wednesday. That said, the Nasdaq eked out a slight gain on Wednesday after chip stocks recovered.
After hitting its midweek bottom, stocks climbed through the end of the week. Chip stocks led the rally, pushing higher amid continued Middle East conflict, even as reports emerged that mediators were trying to get the U.S. and Iran back to the negotiating table. A handful of big tech names led the broad market’s rise to finish the week strong, with the S&P 500 and Nasdaq each gaining more than 1 percent on Friday.
A ‘Family Fight’, Vexed by Inflation
Minutes from the Fed’s June meeting were released on Wednesday and revealed a Fed divided and unsure of how to proceed without more inflation data.
Fed officials offered opposing arguments at the meeting about whether to raise or lower interest rates. Fed Chair Warsh called the debate a “family fight” and gave little forward guidance on where the next decision was leaning, adding they would continue to assess “incoming information” on inflation.
This Week: Key Economic Data
Monday: Treasury Balance.
Tuesday: NFIB Small Business Optimism Index. Consumer Price Index (CPI). Fed Chair Kevin Warsh presents Monetary Policy Report to Congress. Chicago Fed President Austan Goolsbee speaks.
Wednesday: Producer Price Index (PPI). Personal Consumption. New York Fed President John Williams speaks. Fed Beige Book.
Thursday: Retail Sales. Weekly Jobless Claims. Manufacturing & Trade: Inventories & Sales. NAHB Housing Market Index. Pending Home Sales. Dallas Fed President Lorie Logan speaks.
Friday: Housing Starts. Import Prices. Industrial Production. Capacity Utilization. University of Michigan Survey Results.
Source: Investors Business Daily – Econoday economic calendar; July 10, 2026. The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision.
This Week: Companies Reporting Earnings
Tuesday: JPMorgan Chase & Co. (JPM), Bank of America Corporation (BAC), The Goldman Sachs Group, Inc. (GS), Wells Fargo & Company (WLS), Citigroup Inc. (C)
Wednesday: Johnson & Johnson (JNJ), Morgan Stanley (MS), BlackRock (BLK), The Progressive Corporation (PGR), BNY (BNY), The PNC Financial Services Group, Inc. (PNC), Elevance Health, Inc. (ELV), Kinder Morgan, Inc. (KMI), Cintas Corporation (CTAS)
Thursday: UnitedHealth Group Incorporated (UNH), GE Aerospace (GE), Netflix, Inc. (NFLX), Abbott Laboratories (ABT), Prologis, Inc. (PLD), U.S. Bancorp (USB)
Friday: The Travelers Companies, Inc. (TRV), Truist Financial Corporation (TFC)
Source: Zacks, July 10, 2026. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your goals, time horizon, and risk tolerance. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule their earnings reports without notice.
Past performance is no guarantee of future results. Data collected from Investors FastTrack software
CNBC.com, July 7, 2026
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Investing.com, July 10, 2026
WSJ.com, July 6, 2026
WSJ.com, July 10, 2026
