US Markets Highlights — Jul 23, 2026 | Aivina
July 23, 2026
US markets had a mixed week, observing Memorial Day before a Tuesday decline driven by rising bond yields and inflation concerns. Wednesday saw a rebound, with the S&P 500 and Nasdaq surging, largely led by strong performance in technology stocks. Recent May Flash PMI data showed mixed inflation signals, with easing input costs but persistent service sector pressures. Fed officials continue to signal a patient approach to rate cuts, awaiting more disinflation evidence.
Highlights
- US markets observed holiday; Memorial Day closure; trading volumes were low.
- Tuesday's broad decline; S&P 500, Nasdaq fell; rising bond yields pressured stocks.
- Wednesday's tech rally; S&P 500, Nasdaq rebounded; chip stocks led gains.
Macro Overview
Inflation
May Flash PMI data indicated easing input cost inflation to a five-month low, though service sector price pressures remained elevated, showing mixed signals.
Interest Rate Outlook
Fed officials reiterate patience, seeking more disinflation evidence before rate cuts. September cut probabilities fluctuate amid cautious commentary.
Risk Sentiment
neutral
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