Market Report, 2026-07-10

It was a roller-coaster day for stocks, but they finished in the green, with the exception of the healthcare sector, as SK Hynix’s rally following its initial listing in the United States boosted investor sentiment. On a weekly basis, stocks—especially riskier assets—posted solid returns. The S&P 500 rose 1.23%, and the NASDAQ rose 1.69%. The Dow, however, ended the week lower by half a percentage point.

The major contributors to this week’s pattern in asset returns were the renewed, intense conflict between the United States and Iran and confidence that the software and semiconductor industries are benefiting from a secular trend. The energy sector was the clear winner of the week, returning nearly three and a half percent. Technology followed with a return of nearly three percent. All other sectors were either flat or ended the week lower.

Interest rates also returned to elevated levels, negating nearly all the effects of the Federal Reserve’s apparent increase in credibility. Both the 5-year and 10-year U.S. Treasury yields rose by 8 basis points this week, to 4.31% and 4.56%, respectively. The price of gold stayed practically unchanged this week at just above the 4,100 mark.

With the limited amount of economic data released this week, we cannot say that we are observing anything particularly exciting—which, as investors, we appreciate because of the stability. Nevertheless, as mentioned above, the risk of renewed hostility between the United States and Iran has increased. We also noticed that consumer credit contracted in May, even though it was expected to expand by $15 billion. This contraction was driven largely by credit card paydowns, but it may also reflect anxiety-induced spending cuts by lower income households.

Inflation, currently the hottest topic in macroeconomic policy, will be reported next week, and Adams Wealth Advisors will be back to provide updates. Enjoy your weekend.