U.S. Inflation Continues to Ease
U.S. consumer inflation slowed to 2.4 percent year over year in June, down from 2.6 percent in May. Core inflation remained at 2.7 percent, strengthening expectations that the Federal Reserve could begin reducing interest rates later this year while supporting investor confidence.
Wall Street Extends Record Rally
The S&P 500 climbed above 7,600 points, while the Nasdaq Composite advanced beyond 26,500 points, driven by strong second quarter earnings. More than 80 percent of reporting companies exceeded analyst expectations, led by technology, financial, and communication sectors.
China Reports Stronger Than Expected Economic Growth
China’s economy expanded 5.3 percent year over year during the second quarter, outperforming market expectations. Industrial production increased 6.8 percent, while retail sales rose 5.1 percent, easing concerns over slowing demand and providing support for global commodity markets.
Gold Holds Above $4,000 as Central Bank Demand Remains Strong
Gold traded above 4,000 dollars per ounce throughout the week despite stronger equity markets. Central bank purchases and expectations of lower global interest rates continued to support prices, while investors maintained exposure to safe haven assets amid geopolitical uncertainty.
