US markets posted modest gains for the week, navigating a volatile stretch shaped by the Federal Reserve’s decision to hold interest rates steady and a sharp divergence in sector performance driven by earnings results. The S&P 500 rose 1.1% on the week, supported by a surge in select technology heavyweights, though gains were tempered by a broad selloff in semiconductor stocks. Treasury yields were mixed, with shorter-dated yields declining modestly while longer-dated yields rose sharply, reflecting investor concern that persistent inflation may require the Fed to resume tightening. WTI crude oil fell approximately 5.2% over the week, with geopolitical tensions in the Middle East continuing to create uncertainty around energy supply. The Consumer Confidence index came in at 90.8 for July, below the 92.4 estimate, suggesting households remain cautious — a potential headwind for consumer spending. The Q2 2026 GDP advance estimate showed the economy grew at an annualized 1.5%, below the 2.0% expectation and a slowdown from the prior quarter.