TCM BLOG

Stocks fell last week as rising oil prices fueled inflation concerns and pushed global bond yields higher. The S&P 500 declined 1.43%, while the Nasdaq fell 2.05% and the Dow slipped 0.85%. Markets stabilized midweek after the Treasury announced plans to increase buybacks of longer-term debt, helping ease some pressure on yields. Investors now turn to key economic data and a busy earnings calendar, highlighted by Nvidia, CrowdStrike, Salesforce, and other major technology companies.

Inflation is often reduced to a single number: 3%, 4%, or whatever the latest headline says. But there’s more to the story. The government publishes several inflation measures, each designed to capture a different view of how prices are changing. CPI, CPI-W, CPI-E, and PCE can tell very different stories—and the inflation rate that matters most may be the one reflected in your own spending habits. For retirees and households with higher healthcare costs, that difference can be especially important.

Stocks posted modest gains during a quiet summer week as cooler inflation boosted investor optimism, while weaker retail sales tempered sentiment. The S&P 500 and Nasdaq extended their winning streaks to three weeks, despite a modest decline in the Dow. Investors now turn to the Fed’s July meeting minutes, upcoming economic data, and major corporate earnings reports for further clues about the market’s direction and the outlook for interest rates.

Markets posted their strongest week since mid-April, with the S&P 500, Nasdaq, and Dow all advancing sharply as investors digested the final wave of Q2 earnings. A surprise contraction in July payrolls arrived Friday, sparking a rally as traders bet the softer labor data could shape the Fed's next move on rates. This week brings key data on inflation and retail sales, along with earnings from Cisco and Applied Materials, that should offer more clarity on where the economy stands.