Weekly Market Commentary

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Week of Jul. 14 through Jul. 18, 2025

The S&P 500 index edged up 0.6% this week, ending close to the record high in a technology-led advance.

The market benchmark finished the week at 6,296.79, just below the 6,297.36 record on Thursday. The index reached an intraday all-time high of 6,315.61 in Friday's session. The gauge has gained 1.5% in July and 7.1% this year.

US consumer sentiment rose in July to a five-month high, while year-ahead inflation expectations dropped for the second month in a row, preliminary results from a University of Michigan survey showed Friday. Sentiment remains 16% below the December 2024 level and "well below its historical average," said Joanne Hsu, Surveys of Consumers director.

Some big banks reported better-than-expected Q2 results while expressing caution on the outlook. JPMorgan Chase (JPM) posted stronger-than-expected Q2 earnings, supported by a rebound in investment banking as market sentiment improved. Chief Executive Officer Jamie Dimon said the US economy continues to face major risks, including trade tariffs. Wells Fargo (WFC) reported Q2 results above market expectations while lowering its outlook for full-year net interest income.

The technology sector had the largest percentage increase of the week, up 2.1%, followed by a 1.6% increase in utilities. Other gainers included industrials, financials, real estate, consumer discretionary and communication services.

Palantir Technologies (PLTR) rose 8% this week, among the top gains. Knightscope (KSCP) signed a two-year deal with Palantir to join the latter's FedStart program to help boost sales to US federal agencies. Also, Mizuho upgraded its investment rating on Palantir's stock to neutral from underperform.

Advanced Micro Devices (AMD) shares gained 7.2% in the week. The company is planning to restart shipments of its MI308 chips to China as licenses to export those products are approved.

In the utilities sector, PPL (PPL) shares rose 5% as the company and Blackstone Infrastructure unveiled a partnership to construct, own, and manage new gas-fired, combined-cycle power plants that will supply energy to data centers through a long-term energy services contract.

Among declining sectors, energy fell 3.9%, health care declined 2.6%, and materials lost 1.3%. Consumer staples eased.

The energy sector's loss coincided with a weekly drop in crude oil futures. Schlumberger (SLB) shed 11%, the largest percentage across the sector. The company reported declines in Q2 adjusted earnings per share and revenue.

In health care, Waters (WAT) tumbled 19% as Becton Dickinson (BDX) agreed to combine its biosciences and diagnostic solutions business with the analytical laboratory instrument manufacturing company in a deal worth about $17.5 billion.

Elevance Health (ELV) lost 19% in the week as the company missed Q2 adjusted earnings expectations and lowered its forecast for 2025 adjusted earnings per share.

Next week's earnings calendar includes Verizon Communications (VZ), Coca-Cola (KO), Philip Morris International (PM), Alphabet (GOOG, GOOGL), Tesla (TSLA) and IBM (IBM).

Economic data includes June leading economic indicators, existing home sales, new home sales, and durable goods orders.

Provided by MT Newswires.