Weekly Market Update – July 6, 2026

Taylor Champion
2 days ago
2 min read

Price Return Last Week

S&P 500 2.3% S&P Mid Cap (0.2%) Russell 2000 (0.5%)

MSCI EAFE 2.7% MSCI EM 0.9%

10 Yr US Treasury Rate – fell rose 4.45% to 4.49%

Source: Refinitiv Eikon

Recent News

Q2 Summary – After a lackluster first quarter, the S&P 500 gained over 15% in Q2, marking the best quarterly return since 2020. All the more impressive given ongoing negotiations with Iran and the increased likelihood of interest rate increases by the Federal Reserve this year. The Nasdaq-100 returned over 27%, for the second-best quarterly performance in the last 25 years and the Philadelphia Semiconductor Index rose 88%, recording the best performance since inception of the index in 1994.

Source: Morningstar, Nasdaq.com

Jobs Report – Jun: 57k (Reuters Poll est. 110k) May: 129k

A lackluster jobs report showed only 57,000 new jobs added last month and revised May’s jobs numbers down from 172,000 to 129,000. Despite the sluggish growth, the unemployment rate dropped from 4.3% to 4.2%. This was the result of fewer people actively looking for work, with the labor-force participation rate dropping to 61.5%, the lowest in over five years.

Source: The Wall Street Journal

Fed Chair Comments – Newly installed Fed Chair Kevin Warsh reiterated his stance that the Fed would do everything possible to bring inflation back down to the inflation target of 2% and anyone who thought they would let inflation run above that would be “disappointed.” He went on to comment that “we are going to be an independent central bank at this moment and you will see no changes on that.”

Source: Thomson Reuters

…But How’s Their Deep-Dish – Chicago-restaurant Smyth was named the best restaurant in North America, according to a new report from the organization that publishes the “50 Best North America Restaurant” list each year. Smyth was called out for having the highest quality ingredients and blending creativity with consistency. The rankings are produced annually by a panel of 300 experts, including chefs and food journalists.

Source: NBC Chicago

Upcoming Events

6/23 – S&P Manufacturing PMI, S&P Services PMI, Notable Earnings Reports: FedEx

6/24 – Bank Stress Test Results, Notable Earnings Reports: Micron

6/25 – PCE, Durable Goods

Source: Refinitiv Eikon

Disclosure

This material, including references to specific securities, is for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Views are as of the date shown and may change. Forecasts and forward-looking statements are not guarantees of future results. Information is believed reliable but not guaranteed for accuracy or completeness; third-party sources are not affiliated with Chesley, Taft & Associates (CTA). Indexes are unmanaged, not investable, do not reflect fees or expenses, and shown for illustrative purposes only. Past performance is not indicative of future results. Viewing this material does not create an advisory relationship with CTA.