monetary policy

The Weekly Update

Week of September 7th, 2026
By Christopher T. Much, CFP®, AIF®

Stocks were mixed last week as markets continued to navigate geopolitical concerns and new signals about short-term interest rates.

The Standard & Poor’s 500 Index edged up 0.09 percent, while the Nasdaq Composite Index rose 0.40 percent. The Dow Jones Industrial Average slipped 0.27 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, skidded 0.25 percent.

Summer’s Final Act
Stocks fell modestly, and oil prices rose at the start of the week after renewed tensions in the Middle East put investors on edge. Longer-maturity Treasury bond yields also rose, adding pressure on stocks.

Stocks remained under pressure as global bond yields rose, with traders fretting that higher oil prices would stoke broader inflation. Benchmark government bond yields for the U.S., Germany, and Japan hit 20-month, 15-year, and 30-year highs, respectively.

But midweek, stocks rebounded after Fed Governor Christopher Waller suggested …

The Weekly Update

Week of August 31st, 2026
By Christopher T. Much, CFP®, AIF®

Stocks rebounded last week as falling bond yields and upbeat AI-related corporate reports rekindled positive market sentiment despite the Fed Chair’s slightly hawkish speech.

The Standard & Poor’s 500 Index gained 0.49 percent, while the Nasdaq Composite Index rose 0.85 percent. The Dow Jones Industrial Average added 0.53 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, lost 0.17 percent.

An Active News Week
Chip stocks fell as the week kicked off, dragging down the S&P 500 and Nasdaq. Reports that the Treasury Department may buy back its own bonds helped drive yields lower.

Midweek, the Personal Consumption Expenditures (PCE) Report, the Fed’s preferred inflation gauge, came in a little hotter than expected. However, core PCE, which excludes food and energy, was in line with forecasts.

Market sentiment got a lift on Thursday as investors cheered upbeat Q2 corporate reports. …

The Weekly Update

Week of August 24th, 2026
By Christopher T. Much, CFP®, AIF®

Stocks declined last week as global investors fretted about oil-supply-induced inflation.

The Standard & Poor’s 500 Index declined 1.43 percent, while the Nasdaq Composite Index slid 2.05 percent. The Dow Jones Industrial Average slipped 0.85 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, lost 0.40 percent.

Bond Yields Up, Stocks Under Pressure
Bond yields spiked at the start of the week, putting a squeeze on stock prices. The yield on the 30-year Treasury bond hit a 19-year high.

Markets continued their slide on Tuesday as investors fretted over inflation. Yields on bonds around the world rose to multi-decade highs.

Stocks steadied, and bond yields fell midweek as investors responded to the Treasury Department’s announcement that it would buy back long-term debt to help stabilize interest rates. However, the Wednesday morning rally petered out as the session progressed into the …

The Weekly Update

Week of August 17th, 2026
By Christopher T. Much, CFP®, AIF®

Stocks were mixed over a sleepy summer week, as cooling inflation lifted markets while sluggish retail sales nipped at investor sentiment.

The Standard & Poor’s 500 Index added 0.36 percent, while the Nasdaq Composite Index edged up 0.14 percent. The Dow Jones Industrial Average slid 0.56 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, advanced 0.26 percent.

Third Straight for S&P 500
Stocks began the week with mild declines, with megacap tech names under pressure as investors anxiously awaited inflation updates.

But spirits lifted midweek as a July inflation report showed consumer prices increased at a slower pace, leading investors to hope the Fed would not adjust rates at its next meeting.

The AI trade also jumped back into the driver’s seat to add momentum. The rebound rally extended into Thursday as investors cheered a cooler-than-expected report that showed …

The Weekly Update

Week of August 10, 2026
By Christopher T. Much, CFP®, AIF®

Stocks bolted ahead last week as investors cheered the last big week of Q2 corporate reports and a Friday jobs update that put the spotlight on the Fed’s next move with short-term rates.

The Standard & Poor’s 500 Index advanced 3.57 percent, while the Nasdaq Composite Index gained 5.19 percent. The Dow Jones Industrial Average rose 2.96 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, added 2.32 percent.

Best Week in Nearly 4 Months
Stocks opened the week strong as oil prices slid on news of diplomatic efforts in the Middle East. Big Tech led, which helped push the Dow Industrials to a record close.

Investor optimism continued to build on Tuesday as stocks opened higher and climbed throughout the day. Strong Q2 corporate reports added fuel to the rally, lifting all three averages into a second day …

The Weekly Update

Week of August 3rd, 2026
By Christopher T. Much, CFP®, AIF®

Stocks pushed through another volatile summer week as diverging Q2 corporate reports and the Fed’s rate decision whipsawed prices.

The Standard & Poor’s 500 Index rose 1.05 percent, while the Nasdaq Composite Index advanced 1.59 percent. The Dow Jones Industrial Average added 1.04 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, increased 2.13 percent.

Tech Stocks Steal Spotlight
Chip stocks were under pressure at the start of the week as investors fretted over fresh competition from China and higher-than-expected AI capital expenditures. But the Dow pushed higher as oil prices slid and investors rotated out of technology.

On Wednesday, the Federal Reserve said it was holding interest rates steady, a move that was initially well received by markets. But as the day progressed, selling picked up as investors expressed concern that the Fed was not doing enough to …

The Weekly Update

Week of July 27th, 2026
By Christopher T. Much, CFP®, AIF®

Stocks ended last week down as Q2 corporate results, Middle East developments, and the chips trade took investors for a choppy ride.

The Nasdaq Composite Index was under the most pressure, falling 2.13 percent. The Standard & Poor’s 500 Index lost 0.61 percent, while the Dow Jones Industrial Average slipped 0.38 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, rose 0.35 percent.

A Volatile Week
After a sluggish start on Monday, stocks rebounded on Tuesday as the chips trade led the markets higher, as investors turned their attention to Q2 corporate earnings results.

Then stocks stalled midweek as oil prices and bond yields rose and investors digested some initial Q2 reports. The S&P 500 ended just below the flatline, while the Dow went sideways and the Nasdaq posted a modest loss.

Stocks opened lower Thursday as mixed corporate updates …

The Weekly Update

Week of July 20th, 2026
By Christopher T. Much, CFP®, AIF®

Stocks fell last week as the chip-stock trade entered a selloff phase, despite upbeat news on inflation.

The Standard & Poor’s 500 Index fell 1.55 percent, while the Nasdaq Composite Index declined 2.90 percent. The Dow Jones Industrial Average slipped 0.93 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, lost 0.80 percent.

Chip Stocks Under Pressure
Renewed tensions in the Middle East gripped investors as the week kicked off. Stocks slid broadly as oil prices climbed.

On Tuesday, investors cheered news of the first drop in consumer inflation in six years. The following day, an unexpected drop in wholesale inflation prompted investors to rethink the Fed’s next move on short-term interest rates.

But on Thursday, the S&P 500 opened lower as chip stocks dragged the broader market lower once again.

As the week wrapped up, the S&P lost over 1 …

The Weekly Update

Week of July 13th, 2026
By Christopher T. Much, CFP®, AIF®

Stocks largely advanced over a V-shaped week as the AI trade, led by chip stocks, pushed the S&P 500 and Nasdaq averages higher amid renewed conflict.

The Standard & Poor’s 500 Index rose 1.23 percent, while the Nasdaq Composite Index advanced 1.74 percent. The Dow Jones Industrial Average declined 0.50 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, lost 1.42 percent.

Tech-Led Rise Past Geopolitical Concerns
Stocks rose to start the week, with the Dow hitting another record close and the Nasdaq climbing more than 1 percent as investors shook off valuation concerns that plagued AI stocks over the past few weeks.

The Dow hit a new intraday high on Tuesday before its two-day slide, along with the S&P 500 and Nasdaq, through the week’s lows midday Wednesday. That said, the Nasdaq eked out a slight gain on …

The Weekly Update

Week of July 6th, 2026
By Christopher T. Much, CFP®, AIF®

Markets notched a solid gain over a shortened trading week as investors cheered ongoing diplomatic efforts in the Middle East.

The Standard & Poor’s 500 Index rose 1.77 percent, while the Nasdaq Composite Index advanced 2.12 percent. The Dow Jones Industrial Average climbed 1.97 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, gained 1.81 percent.

Q2 Ends with Fireworks
Stocks opened higher to start the week, climbing on weekend news regarding the U.S. and Iran.3
On the second day of trading, the rally narrowed with chip stocks leading the way. The Nasdaq rose more than 3.5 percent and the S&P 500 2 percent in the first two days of the week.

But as July began, markets pivoted as investors rotated out of some AI and tech names. The Dow hit a new intraday high before pulling back a bit. …