Market Update…Tuesday, July 15, 2025
Well, as I hope a tech guy finally shows up on Wednesday, this morning I had to work on insurance matters involving my car that had been rear-ended, as I deal with the offender’s insurance company. They made me take a video and do all kinds of stuff that was a pain in the butt. But as Tony Soprano would have said, “Whaddya gonna do…”
Stocks finished mixed as the consumer price index data for June came in a tick hotter than expected, 2.7% year-over-year on headline, and 2.9%, as expected, ex-food and energy. It certainly isn’t 2.0%, the Fed’s target and it further solidified the belief that the Fed’s Open Market Committee isn’t moving when it meets July 29-30, but still could lower rates in September, depending on further data.
The headline 2.7% CPI was also above the 2.4% figure from May, and the bond market fell…yields rose.
The Dow Jones and S&P 500 declined, while Nasdaq rose as kingpin Nvidia’s shares hit fresh record highs after the company said that it’s planning to resume sales of its AI chips to China – one of its most important markets – after receiving assurances from the White House that it will be granted approval, a dramatic reversal in the Trump administration’s earlier stance on export curbs, part of its trade standoff with Beijing. The move helped chip stocks across the board.
Dow Jones…-436 (-1.0%) [44022]
S&P 500…-24 (-0.4%) [6243]
Nasdaq…+37 (0.2%) [20677…new record!]
Oil (WTI)…$66.65
Gold…$3,334
Bitcoin…$116,445
10-year Treasury…4.49%
Have a good evening. We’ll see what tomorrow brings with my personal tech journey to finally get my critical desk top back up and running.
*I just got an email from Best Buy that my tech guy is now Thursday!!! Drat! They’ve had my money for 10 days and no delivery on promised services….
