Investment Review - July 2026
- The major U.S. stock indices were mixed in the month of June. The S&P 500 fell 1.3%, the Nasdaq fell 3.2%, while the Dow Jones Industrial Average rose 2.4%. The divergence in performance reflected a rotation out of investments related to artificial intelligence (AI).
- The yield curve flattened slightly in the month of June, with the 10-year note yield falling 2 basis points (0.02%) and the 2-year note yield rising 12 basis points (0.12%). The curve flattening reflected the relatively hawkish comments of new Federal Reserve Chair Kevin Warsh.
- SpaceX (SPCX) raised $75 billion in an initial public offering.
Key Investment Statistics
Sources: FactSet, Dow Jones Publishing, Bloomberg, Bureau of Labor Statistics, S&P Global, U.S. Bureau of Economic Analysis, Commerce Department, U.S. Federal Reserve
Disclosure: This commentary reflects the opinions of Welch & Forbes based on information that we believe to be reliable. It is intended for informational purposes only, and not to suggest any specific performance or results, nor should it be considered investment, financial, tax or other professional advice. It is not an offer or solicitation.
For more information, call 617-557-9800, or email info@welchforbes.com.