US Markets Highlights — Jul 11, 2026 | Aivina
July 11, 2026
The S&P 500 and NASDAQ reached new record highs last week, primarily driven by strong performance in the technology sector. Despite a robust May jobs report that dampened immediate Fed rate cut expectations, market sentiment remained largely bullish. The robust economic data, particularly in employment and services, suggests persistent inflationary pressures, leading to a "higher for longer" interest rate outlook from the Federal Reserve.
Highlights
- S&P 500 reached new record highs; tech sector drove gains; strong jobs report initially caused volatility.
- NASDAQ showed significant weekly gains; tech stocks performed strongly; despite some daily fluctuations.
- Early week saw slight pullback; investors digested economic data; markets largely recovered by week's end.
Macro Overview
Inflation
April Core PCE was 2.8% YoY, showing persistent services inflation. Upcoming May CPI/PCE data is crucial for future trends.
Interest Rate Outlook
Strong May jobs data dampened July rate cut hopes. Markets now price fewer 2024 cuts, likely starting September, as Fed maintains patience.
Risk Sentiment
bullish
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