Weekly Markets Summary

Weekly Notes · July 27 – August 2, 2026 WEEKLY MARKET INTELLIGENCE ISSUE DATE · AUGUST 2, 2026 FOR INFORMATIONAL USE ONLY ℹ️ NOT FOR FINANCIAL ADVICE — FOR INFORMATIONAL AND ENTERTAINMENT USE ONLY S&P 500 DOW NASDAQ BRENT CRUDE 10-YR YIELD 30-YR YIELD 7,489.72 ▲ 1.1% WK 52,485.03 ▲ 1.0% WK 25,373.85 ▲ 1.6% WK $90.12 ▲ >20% MTD 4.75% ▲ Multi-year high 5.28% ▲ Highest since 2007 Weekly Overview · July 27 – August 2, 2026 A week of two opposing forces, and the market took a beating from one before being rescued by the other. Wednesday's FOMC hold — decided 9–3, with three regional presidents dissenting in favor of a hike — convinced the bond market that the Fed is falling behind on inflation, sending the 30-year Treasury yield to its highest level since 2007 and the Dow to its worst single day since April 2025. Then Big Tech reported. Microsoft, Amazon and Alphabet added roughly $1.5 trillion in combined market value across the week, dragging all three major indices back into the green by Friday's close. Beneath it, Q2 GDP came in soft at 1.5%, June core PCE stayed at 3.3%, and Brent settled above $90 as Iran attacked tankers in the Strait of Hormuz. ⏱ ESTIMATED READING TIME: 8–9 MINUTES Headline 01 of 05 — A Divided Fed Holds, and the Bond Market Objects Monetary Policy · FOMC · Treasury Yields · Warsh Fed The Federal Open Market Committee voted 9–3 on Wednesday, July 29 to hold the federal funds target range at 3.50–3.75% — the decision itself was expected; the composition of the vote was not. All three dissenters — Cleveland's Beth Hammack, Minneapolis' Neel Kashkari and Dallas' Lorie Logan — called for an immediate quarter-point increase . It is the first time since September 2016 that three policymakers have dissented in the same direction, and the first time in this cycle that the direction has been up. The dissenters' argument was straightforward: inflation is a live burden on households, driven by both tariffs (now averaging 10–13% depending on goods category,…