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Weekly Market Update – July 28, 2025

Price Return Last Week

S&P 500 +1.5%       S&P Mid Cap +1.5%  Russell 2000 +1.0%

MSCI EAFE +1.9%  MSCI EM +0.7%

10 Yr US Treasury Rate – fell from 4.43% to 4.39%

Source: Refinitiv Eikon

Recent News


European Trade Deal – The European Union and President Trump reached a preliminary agreement on trade on Sunday, resulting in tariffs of 15% on the vast majority of European goods.  Trump stated that the EU had agreed to buy $750 billion of energy products from the U.S. and invest an additional $600 billion in the U.S.  The text of the agreement has not been released but it has been reported that certain items will not face any tariffs from either partner, including aircrafts, certain chemicals, semiconductor equipment, and some agricultural products.

Source: The Wall Street Journal


Japan Trade Deal – President Trump announced a trade deal with Japan on Tuesday.  In exchange for investing $550 billion in the U.S., Trump will set Japan’s tariff rate at 15% instead of the 25% that Trump proposed in a recent letter to the Japanese government.  However, the rate on steel imports from Japan remains at 50%.  Details on the Japanese investment remain scant and some have suggested that the actual investment amount will be far lower than the announcement.

Source: Bloomberg, The Wall Street Journal


Home Prices Break Record – The national median existing-home sales price rose to $435,300 in June, an increase of 2% compared to a year ago and a new record.  This was achieved despite home sales falling to a 10-month low during the month.  There were 4.7 months of supply of existing homes available for sale in June, an increase of 0.7 months from a year ago but still below the 40-year average of 6.0 months.  NAR chief economist, Lawrence Yun, remarked that the price level “…is reflecting multiple years of undersupply.”

Source: National Association of Realtors, Refinitiv Eikon, The Wall Street Journal


Senior Tour – Nearly 30 years after the movie Happy Gilmore was released, Adam Sandler reprises the role of Happy in the Netflix film, Happy Gilmore 2.  Roger Ebert gave the original film 1 ½ stars and called it the story of a “violent sociopath” in his review for the Chicago Sun-Times but the film was a hit and became a cult classic.  As a result, celebrities and athletes were jumping at the chance to join the production with over 70 cameos throughout the movie.  Rotten Tomatoes rates the new movie at 66% “fresh”, improving on the 63% score for the original.

Upcoming Events


7/28 – Notable Earnings Reports: Nucor, Cadence Design Systems


7/29 – Consumer Confidence, Notable Earnings Reports: CBRE, American Tower, Boeing, Merck, Ecolab, Norfolk Southern, Procter & Gamble, UnitedHealth Group, UPS, PayPal, Booking, Starbucks, Visa, Expand Energy


7/30 – Q2 GDP, Fed Meeting, Notable Earnings Reports: Illinois Tool Works, Old Dominion, Kraft Heinz, Fortive, GE Healthcare, Bunge, Albemarle, Cognizant, Equinix, Microsoft, Qualcomm, Meta, VICI Properties, Ford, eBay


7/31 – PCE, Notable Earnings Reports: Masco, Southern, Air Products and Chemicals, Bristol-Myers Squibb, Comcast, Intercontinental Exchange, Biogen, KKR, Mastercard, CVS, Exelon, Aptiv, AbbVie, Apple, Amazon, First Solar, Stryker, KLA


8/1 – Jobs Report, ISM Manufacturing PMI, Notable Earnings Reports: Linde, Exxon Mobil, Chevron, Berkshire Hathaway, WW Grainger

Source: Refinitiv Eikon

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