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Fed Minutes, Jobs Data Spur S&P Near 8,000

7/7/2026

Summary

Fed Releases Minutes

Federal Reserve (Fed) will release its FOMC minutes on July 8, 2026, after 3.50%-3.75% and a June report of 57,000 jobs, 4.2% unemployment and 4.2% CPI.
Investors rotate to healthcare, utilities, energy and industrials as the S&P 500 trades near 8,000, with Morgan Stanley lifting its target to 8,000.
PepsiCo will report earnings on July 9, 2026 near $2.19 while Delta Air Lines reports on July 10, 2026.
Treasury yield is 4.48% as gold stays above $4,130.

Summary

Japan PPI Surge

Japan’s producer-price index rose 6.3% YoY in May, fastest since 2023.
China’s producer-price index climbed to 3.9% in May while CPI was 1.2%.
Memory-chip shares jumped 17% after Micron’s June 24 earnings to $1,255, then fell 22.3% to $975.56.
After Fed Chair Kevin Warsh omitted the dot plot in June, futures priced in 1.5 rate hikes over the next 12 months.

Summary

Consumers Slide

Consumer sentiment fell 6% in March, the lowest since Dec 2025, as Middle East energy prices rose.
Director Joanne Hsu said higher-income households with stock wealth saw the sharpest sentiment drop as gas prices spiked.
Northwestern Mutual CIO Brent Schutte warned that inflation pressures and a weakening labor market pose the primary risk.
Fed Chair Jerome Powell told Harvard higher energy costs will lift inflation but duration, scope remain uncertain.

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Fed Releases Minutes

Federal Reserve (Fed) will release its FOMC minutes on July 8, 2026, after 3.50%-3.75% and a June report of 57,000 jobs, 4.2% unemployment and 4.2% CPI.
Investors rotate to healthcare, utilities, energy and industrials as the S&P 500 trades near 8,000, with Morgan Stanley lifting its target to 8,000.
PepsiCo will report earnings on July 9, 2026 near $2.19 while Delta Air Lines reports on July 10, 2026.
Treasury yield is 4.48% as gold stays above $4,130.

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