MARKET RECAP

• Stocks ended the week on a high note but are down for the week. US stocks fell by 0.51%, and international stocks by 0.20%. However, the Dow Jones Industrial Average finished up 0.75%. The S&P Small Cap 600 was up by 3.6% for the week. Bonds rallied by 0.28%.
• Good inflation data helped small caps and the Dow. The personal consumption expenditures price index was up only 2.5%, and in the second quarter, GDP came in better than expected at 2.8%. To investors, this was the right mix to suggest a rate cut in September.
• The NASDAQ was down by 2.1% for the week. On Wednesday, the index fell by 3.6%, its worst day since 2022. At its low point on Thursday, the MAG 7 was off by 14% from its high on July 11th.
• On Thursday, copper ended its longest losing streak since February of 2020.

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