--- title: "Click here to read our #globalmarkets weekly wrap up" description: The Nasdaq, the Dow, and S&P 500 Index all advanced, while the Russell 2000 Index was little changed, in a week characterized by sharp swings tied to the Fed’s policy meeting, the ongoing U.S.-Iran war, and volatility in AI-related shares. Consumer discretionary led the S&P 500 sectors—supported by a late-week rally in Amazon shares. Concerns about the sustainability of heavy AI investments continued early in the week, with many AI-related shares coming under pressure amid questions about elevated capex, circular financing, and rising competition. However, sentiment reversed sharply on Thursday after Microsoft reported stronger-than-expected growth in its Azure cloud business and issued an encouraging outlook, helping support a broad rebound in recently weak tech stocks. The Fed left the rate target range unchanged. 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The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. [Global Markets Outlook](https://blog.syzgroup.com/fast-food-for-thought/tag/global-markets-outlook) ### Click here to read our #globalmarkets weekly wrap up The Nasdaq, the Dow, and S&P 500 Index all advanced, while the Russell 2000 Index was little changed, in a week characterized by sharp swings tied to the Fed’s policy meeting, the ongoing U.S.-Iran war, and volatility in AI-related shares. Consumer discretionary led the S&P 500 sectors—supported by a late-week rally in Amazon shares. Concerns about the sustainability of heavy AI investments continued early in the week, with many AI-related shares coming under pressure amid questions about elevated capex, circular financing, and rising competition. However, sentiment reversed sharply on Thursday after Microsoft reported stronger-than-expected growth in its Azure cloud business and issued an encouraging outlook, helping support a broad rebound in recently weak tech stocks. The Fed left the rate target range unchanged. However, three policymakers dissented, voting instead to raise rates. [![Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/hubfs/charles-2.jpg)](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau) [**Charles-Henry Monchau, CFA, CMT, CAIA**](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau) Chief Investment Officer **Saturday, 08/01/2026** | Reading time: 1min. - [![Pdf](https://blog.syzgroup.com/hubfs/pdf%20(1).png)](https://blog.syzgroup.com/hubfs/1785535580105.pdf?hsLang=en) - - - - --- [ PDF](https://blog.syzgroup.com/hubfs/1785535580105.pdf?hsLang=en) ---   #### WEEKLY SUMMARY: A mixed week for markets as Fed and BoJ stayed put  The Nasdaq, the Dow, and S&P 500 Index all advanced, while the Russell 2000 Index was little changed, in a week characterized by sharp swings tied to the Fed’s policy meeting, the ongoing U.S.-Iran war, and volatility in AI-related shares. Consumer discretionary led the S&P 500 sectors—supported by a late-week rally in Amazon shares. Concerns about the sustainability of heavy AI investments continued early in the week, with many AI-related shares coming under pressure amid questions about elevated capex, circular financing, and rising competition. However, sentiment reversed sharply on Thursday after Microsoft reported stronger-than-expected growth in its Azure cloud business and issued an encouraging outlook, helping support a broad rebound in recently weak tech stocks. The Fed left the rate target range unchanged. However, three policymakers dissented, voting instead to raise rates. Meanwhile, Q2 US real GDP data showed that growth is slowing down while inflation is cooling. The US Treasury yield curve steepened as short-term yields declined while the yield on the 30-year rose above 5.2% for the 1st time since 2007. The STOXX Europe 600 Index ended the week up 0.73% as Eurozone economic growth surprises to the upside in Q2; inflation ticked higher in July. Japan’s stock markets fell slightly over the week as BoJ keeps policy rate unchanged but leaves door open for September move. The dollar is down for the last six straight days, erasing all of the post-Warsh (first FOMC) gains, as interventions by the US and Japan boosted the yen. Have a great weekend… and happy Swiss National Day !!!! Charles & Syz Research Lab    #### Disclaimer This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. Read More ## Related Articles [Global Markets Outlook](https://blog.syzgroup.com/fast-food-for-thought/tag/global-markets-outlook) #### [Click here to read our #globalmarkets weekly wrap up](https://blog.syzgroup.com/fast-food-for-thought/click-here-to-read-our-globalmarkets-weekly-wrap-up-1789199400290?hsLang=en) U.S. stocks ended the holiday-shortened week lower as escalating Middle East tensions pushed oil prices toward $110 per barrel, reviving inflation concerns and driving Treasury yields higher. Small and mid-caps suffered most: the Russell 2000 fell 2.4% and the S&P Mid-Cap 400 lost 1.9%, while the Nasdaq declined just 0.7%.The 10-year Treasury yield approached 5%, pressured by higher energy prices, persistent inflation, heavy government issuance and a smaller-than-expected Treasury buyback. August data reinforced expectations of a September Fed rate hike. Producer prices rose 5.4% year-on-year, while core consumer prices increased 0.3% month-on-month—slightly above forecasts. Markets subsequently raised the probability of a September hike to 87%. Meanwhile, jobless claims remained stable, suggesting continued labour-market resilience. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 12/09/2026 ## Straight from the Desk # Syz the moment Live feeds, charts, breaking stories, all day long. [Discover more](https://blog.syzgroup.com/syz-the-moment?hsLang=en) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. 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