Market views heading into the week highlight what we're watching and important news ahead.
Investment Advisory Group
Truist Advisory Services, Inc.
A look back
The S&P 500 rebounded last week, jumping 2.0% higher while small and mid cap stocks fell by more than 1.0%. International developed stocks were 2.2% higher last week.
The 2-year U.S. Treasury yield fell 0.12%, ending the week at 4.60%. Similarly, the 10-year yield fell 0.09% to 4.27%.
U.S. payrolls exceeded expectations in June, adding 206,000 jobs, although downward revisions lowered the prior two months by 111,000. Additionally, the unemployment rate ticked up to 4.1% from 4.0%.
A look ahead
In the week ahead, many investors will be looking for the Consumer Price Index (CPI) and Producer Price Index (PPI) to continue trending lower, widening the path for the Federal Reserve (Fed) to cut rates later this year.
Prior to the CPI and PPI data releases, Fed Chair Powell will appear in front of Congress to give his semiannual testimony on monetary policy. Later in the week, a few large banks will report second quarter earnings.
