While there is little doubt that AI is transformational, it remains difficult to forecast demand or determine how it will affect businesses, workers, and productivity in the years ahead.

Markets were mixed this week as leadership continued to rotate within the market. The S&P 500 returned -0.1% and the Nasdaq declined -2.5% as investors rotated out of Technology stocks.

Markets traded higher this week, with leadership swinging back to the largest technology stocks. The S&P 500 gained +1.23%, and the Nasdaq Composite returned +1.74%, while the Russell 2000 small-cap index finished -0.61% lower.

What a turnaround! The 2nd Quarter 2026 market performance was eye-popping.

Markets traded lower this week, though there was relative strength beneath the major equity indexes.

Connecting the Fed’s past with its future is helpful to understand how investors should view monetary policy going forward.

Markets traded higher this week, with gains concentrated in the semiconductor industry and AI beneficiaries.