Source: Charles Schwab, data from 7/6 – 7/10

Weekly Market Minute

“Patience is not the ability to wait, but the ability to keep a good attitude while waiting.”
— Joyce Meyer

🧭 This Week In the Markets

Image Source: Shady Alassar/Anadolu via Getty Images

U.S. Launches New Strikes on Iran Following Shipping Attacks

President Donald Trump said the U.S. is uncertain whether recent military exchanges with Iran will escalate into a broader conflict, while claiming Iran has contacted the U.S. seeking renewed negotiations following recent American strikes. The latest U.S. military operation targeted Iranian military assets after attacks on commercial vessels transiting the Strait of Hormuz, with U.S. officials stating the strikes were intended to degrade Iran’s military capabilities and protect a critical global shipping route. Trump also expressed skepticism that Iran would honor any future agreement despite its reported interest in negotiations. Iran’s Foreign Ministry condemned the strikes as a violation of the memorandum of understanding reached last month to end hostilities, reaffirming its commitment to defend its sovereignty and respond to any further military action.

Oil Outlook Clouded by Middle East Tensions

The International Energy Agency (IEA) forecasts global oil demand will decline by approximately 1 million barrels per day in 2026, marking the first annual decrease since 2020, as disruptions from the Iran conflict and the temporary closure of the Strait of Hormuz weighed on production and exports. While the agency expects supply to gradually recover and the oil market to return to a surplus later this year, its outlook assumes a lasting ceasefire and the gradual reopening of the Strait of Hormuz. The IEA cautioned that renewed military exchanges between the U.S. and Iran, along with any further disruptions to shipping through the Strait, could delay the recovery, prolong uncertainty in global energy markets, and place additional upward pressure on oil prices.

Bank Earnings and Inflation in Focus

U.S. markets face a busy week ahead as second-quarter earnings season begins with reports from several major banks and investors await Tuesday’s June Consumer Price Index report. Major bank earnings are expected to set the tone for the broader earnings season and provide an early read on the strength of the U.S. economy. The inflation data will be closely watched for signs of easing or persistent price pressures and what it could mean for the Federal Reserve’s next interest-rate decision.

🏢 Corporate Earnings

• PepsiCo Inc (PEP) reported mixed Q2 results, with adjusted earnings per share of $2.20 narrowly missing estimates of $2.21, while revenue of $24.18 billion exceeded expectations of $23.95 billion. Continued weakness in its North American food and beverage businesses was offset by strong international demand, and the company reaffirmed its full-year guidance.

📊 Sector Performance

5-day closing price ($) and change (%)

Source: Select Sector SPDRs, data based on the Sector SPDR ETFs as of 7/10

Latest from EMW

If Evans May Wealth Was In The World Cup…
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Elizabeth Evans, CFP® on Fox Making Money 7/8/2026
The market may be entering a new phase. The S&P 500 just posted its strongest second-quarter return during a midterm election year in nearly 80 years, despite war headlines, geopolitical uncertainty, and periods of $100+ oil.

📰 Dollars & Sense: This Week’s Rapid Read

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Devices can help keep you connected while traveling, but they’re also susceptible to unique risks. Here’s how to boost your cybersecurity when you’re away from home.

Source: Charles Schwab

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Sources: CNBC, CNBC, CNBC, Reuters
Corporate Earnings: Pepsi Co Inc

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