JUST THE FACTS

Choppy trading on Friday smoothed out just in time for a winning session across the board. The advances helped lock up the week for all three major indices, but only the Dow would score a win for July. 

Earnings from the Mag7 will always grab the spotlight, and these past two weeks, the light was brighter than ever. With six of the seven reporting, market reactions were non-stop, with lots to say about AI.

The Fed's decision to leave rates on hold was as expected, but the fallout was still brutal. The uncertainty surrounding the Fed's next moves would set off a tumble for stocks and a surge in Treasury yields. 

The war's ceasefire in June only lasted a few weeks, but the impact it would have on inflation was substantial. During that calm was when gas prices fell, leading to a solid cooling off in June's PCE reading.

U.S. consumers are still a bit antsy about inflation, but their outlook is continuing to improve. The responses to July's final sentiment survey found public optimism rising again for a second-straight month.

The incoming week will be loaded again with new reports and numbers. Friday's jobs report for July will be the headliner on the economics side, while big names in AI-trade and SpaceX lead on earnings.