US Markets
US Markets Highlights — Jul 19, 2026 | Aivina
July 19, 2026
US markets closed May with tech-led gains, as the Nasdaq and S&P 500 rose on inline PCE inflation data. While core inflation slowly cools, Federal Reserve officials remain cautious and data-dependent on rate cuts. Early June saw markets dip following an unexpected contraction in the manufacturing sector, indicating a mixed economic outlook.
Highlights
- Tech sector surged; led market gains; S&P 500 also rose.
- PCE inflation cooled; met market expectations; eased rate fears.
- Manufacturing contracted unexpectedly; ISM PMI fell; weighed on early June.
Macro Overview
Inflation
April PCE data met expectations, showing core inflation at 2.8% year-over-year. Disinflation is progressing slowly.
Interest Rate Outlook
Fed officials remain cautious, data-dependent. Rate cut expectations are pushed back to September or later.
Risk Sentiment
neutral
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