Risk Managed Strategy Funds

John Hancock: Weekly Market Recap Week Ended July 24

July 28, 2026

Energy shocks

Escalation in the Middle East conflict and further shipping disruptions in the Persian Gulf and Red Sea lifted oil prices. U.S. crude was trading around $90 per barrel on Friday afternoon, up from roughly $82 at the end of the previous week and $69 as recently as early July.

 

Earnings upgrade

Earnings season forecasts were adjusted sharply higher after a mega-cap tech company reported better-than-expected results. As of Friday, analysts projected that earnings for S&P 500 companies rose an average 37.9% in the second quarter, up from a 24.8% forecast at the end of the previous week, according to FactSet. The latest forecast was based on the roughly one-quarter of S&P 500 companies that had reported results as of Friday, plus projections for those that hadn’t yet released numbers.

 

Elevated global yields

Bond yields pushed higher in key developed markets outside the United States. In the United Kingdom, 10-year government bond yields rose above 5.00% while the equivalent German yield hit its highest level since 2011. Japanese yields recently approached levels last seen in the 1990s.

 

Busy week ahead

In addition to more quarterly earnings reports, the new week will bring a U.S. Federal Reserve policy meeting that concludes on Wednesday. On Thursday, investors will assess an initial estimate of second-quarter GDP growth and June’s inflation rate, as measured by the Personal Consumption Expenditures Price Index.

 

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