US stocks weekly: Crosscurrents
SPY•Energy leads as oil climbs to six-week highs
- Energy .SPNY accelerates 3.8%. Group rises as Brent crude touches $100/bbl after Houthi attack on Saudi tankers O/R. Oil climbs to six-week highs, but clouds gather near resistance
- Meanwhile, individual investor optimism takes a hit as inflation worries linger
- SPX performance YTD:
SP 500 2026 YTD THROUGH JULY 24 https://fingfx.thomsonreuters.com/gfx/buzz/myvmwxabovr/SP%20500%202026%20YTD%20through%20Jul%2024.jpg
Rates rise and volatility compression gives way
- U.S. 10-Year Treasury yield US10YT=RR rises 14 basis points, largest weekly increase since May, to around 4.68% US/. This as volatility compression gives way
Broad market crosses currents as S&P 500 and Nasdaq weaken
- S&P 500 .SPX down second straight week, dips 0.6% as markets monitor Middle East straits .N
- Dow .DJI slips 0.4%, tech-heavy Nasdaq Composite .IXIC descends 2.1%
- S&P 500 starts week out on the back foot, but bulls fight back, show resilience, and Nasdaq Composite tests bulls' resolve after sharp tech-led selloff
- Indeed, Mag 7 MAGS.K stumbles as AI spending concerns return, but ETF holds support
- And when it comes to Tech vs. Banks .SPXBK, it's a tale of two trendlines
