Last week, all three major benchmark indexes on Wall Street ended on a negative note, with the Dow Jones Industrial Average decreasing by 0.67%, the S&P 500 by 0.77%, and the Nasdaq Composite by 1.36%. This downturn came despite mixed economic indicators, including a surprising 0.4% drop in June’s Consumer Price Index, marking the most significant monthly decline since 2020, and an annual inflation rate of 3.5%. Fresh geopolitical tensions especially related to the Middle East have raised concerns about energy prices, with WTI crude rising to approximately $74 per barrel.
Meanwhile, the Philadelphia Fed manufacturing index surged to 41.4, the strongest performance since late 2021. Retail sales advanced 0.2%, and weekly jobless claims remained low at 208,000, indicating a resilient labor market. The mixed economic signals, alongside rising Treasury yields and profit-taking in AI stocks, contributed to investor caution heading into the upcoming week.
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