From the Desk - Economic Commentary
Brandon Casey, Member Strategies - 7/28/2026
U.S. equity markets are trading mixed this morning as investors look ahead to a pivotal week that includes earnings reports from several large technology companies and the Federal Reserve’s latest policy decision. While the DJIA is posting gains, broader market performance has been restrained by continued weakness in semiconductor stocks. A pause in fighting between the U.S. and Iran has pushed oil prices lower from last week’s highs and eased some inflation concerns.
Housing price data released this morning showed home appreciation remained modest in May. The S&P CoreLogic Case-Shiller National Home Price Index increased 1.1% year-over-year and 0.6% during the month. The 20-City Index rose 1.6% over the last year, accelerating from a revised 1.2% increase in April. On a monthly basis, prices increased 0.9%. Meanwhile, the FHFA House Price Index increased 0.3% in May and 2.2% over the last year.
The Conference Board Consumer Confidence Index declined slightly in July, highlighting continued caution among consumers. The index fell to 90.8 from an upwardly revised 92.2 in June and came in below economists’ expectations of 92.3. The Present Situation Index declined 3.6 points to 114.9, marking its third consecutive monthly decrease. The Expectations Index held steady at 74.7, remaining below the level of 80 that has historically been associated with increased recession risk.
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