The Markets (as of market close July 24, 2026)

Despite a broad-based rally last Friday, stocks generally closed the week lower. With the exception of the Global Dow, each of the benchmark indexes listed here ended last week in the red. Ongoing tensions in the Middle East have wreaked havoc with crude oil prices, which jumped to over $100/barrel last Thursday, only to plunge to about $90/barrel by the end of the week. Ten-year Treasury yields jumped to their highest levels since January 2025 following a four-session rally before settling at 4.67%. Energy, industrials, information technology, utilities, health care, and materials outperformed, while consumer discretionary, consumer staples, and communication services declined.

Stock Market Indexes

Chart reflects price changes, not total return. Because it does not include dividends or splits, it should not be used to benchmark performance of specific investments.

Last Week’s Economic News

• Sales of new single-family houses in June were 1.6% above the May rate but 5.6% below the June 2025 estimate. Inventory of new single-family homes for sale in June represented a supply of 9.3 months at the current sales rate, which was 1.1% below the May 2026 estimate but 3.3% above the June 2025 figure. The median sales price of new houses sold in June was $398,300. This was 3.3% below the May price of $412,000, and 2.7% under the June 2025 price of $409,200. The average sales price of new houses sold in June was $475,400. This was 9.5% below the May price of $525,200 and 6.5% under the June 2025 price of $508,700.
• For the week ended July 18, there were 187,000 new claims for unemployment insurance, a decrease of 22,000 from the previous week’s level, which was revised up by 1,000. According to the Department of Labor, the advance rate for insured unemployment claims for the week ended July 11 was 1.2%, unchanged from the prior week’s rate. The advance number of those receiving unemployment insurance benefits during the week ended July 11 was 1,796,000, a decrease of 2,000 from the previous week’s level, which was revised down by 7,000. States and territories with the highest insured unemployment rates for the week ended July 4 were New Jersey (2.6%), Puerto Rico (2.6%), Rhode Island (2.3%), Massachusetts (2.2%), Minnesota (2.2%), Oregon (2.1%), Washington (2.0%), California (1.9%), New York (1.8%), Connecticut (1.7%), Nevada (1.7%), and Pennsylvania (1.7%). The largest increases in initial claims for unemployment insurance for the week ended July 11 were in New York (+12,580), Michigan (+3,143), Florida (+2,799), Texas (+2,676), and South Carolina (+2,113), while the largest decreases were in New Jersey (-5,603), Missouri (-5,391), California (-2,311), Massachusetts (-1,342), and Rhode Island (-1,031).
• The national average retail price for regular gasoline was $4.001 per gallon on July 20, $0.146 per gallon above the prior week’s price and $0.880 per gallon higher than a year ago. Also, as of July 20, the East Coast price increased $0.159 to $3.924 per gallon; the Midwest price rose $0.118 to $3.780 per gallon; the Gulf Coast price climbed $0.165 to $3.588 per gallon; the Rocky Mountain price increased $0.133 to $3.956 per gallon; and the West Coast price advanced $0.151 to $4.983 per gallon.

Eye on the Week Ahead

There’s plenty of market-moving economic data being released this week. The Federal Reserve concludes its meeting on Wednesday, and it’s expected to leave interest rates in their current. The report on gross domestic product for the second quarter is available as is the June data on consumer prices.

Data sources: Economic: Based on data from U.S. Bureau of Labor Statistics (unemployment, inflation); U.S. Department of Commerce (GDP, corporate profits, retail sales, housing); S&P/Case-Shiller 20-City Composite Index (home prices); Institute for Supply Management (manufacturing/services). Performance: Based on data reported in WSJ Market Data Center (indexes); U.S. Treasury (Treasury yields); U.S. Energy Information Administration/Bloomberg.com Market Data (oil spot price, WTI, Cushing, OK); www.goldprice.org (spot gold/silver); Oanda/FX Street (currency exchange rates).

News items are based on reports from multiple commonly available international news sources (i.e., wire services) and are independently verified when necessary with secondary sources such as government agencies, corporate press releases, or trade organizations. All information is based on sources deemed reliable, but no warranty or guarantee is made as to its accuracy or completeness. Neither the information nor any opinion expressed herein constitutes a solicitation for the purchase or sale of any securities, and should not be relied on as financial advice. Forecasts are based on current conditions, subject to change, and may not come to pass. U.S. Treasury securities are guaranteed by the federal government as to the timely payment of principal and interest. The principal value of Treasury securities and other bonds fluctuates with market conditions. Bonds are subject to inflation, interest-rate, and credit risks. As interest rates rise, bond prices typically fall. A bond sold or redeemed prior to maturity may be subject to loss. Past performance is no guarantee of future results. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing strategy will be successful.

The Dow Jones Industrial Average (DJIA) is a price-weighted index composed of 30 widely traded blue-chip U.S. common stocks. The S&P 500 is a market-cap weighted index composed of the common stocks of 500 largest, publicly traded companies in leading industries of the U.S. economy. The NASDAQ Composite Index is a market-value weighted index of all common stocks listed on the Nasdaq stock exchange. The Russell 2000 is a market-cap weighted index composed of 2,000 U.S. small-cap common stocks. The Global Dow is an equally weighted index of 150 widely traded blue-chip common stocks worldwide. The U.S. Dollar Index is a geometrically weighted index of the value of the U.S. dollar relative to six foreign currencies. Market indexes listed are unmanaged and are not available for direct investment.

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First Financial Trust, N. A., does not provide tax or legal advice. The information presented here is not specific to any individual’s personal circumstances

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