3 Hawkish Dissents & The $90 Oil SHOCK!

The week featured high volatility driven by AI earnings, a divided Federal Reserve decision, and rising oil prices above $90 per barrel due to geopolitical tensions in the Strait of Hormuz.

A clear divide emerged between Big Tech companies: Microsoft and Amazon saw gains by proving their AI spending is generating revenue, while Meta and Apple faced market punishment for lacking concrete proof of AI-driven success.

Second-quarter GDP growth slowed to 1.5%, though underlying demand remained strong. Meanwhile, PCE inflation remains nearly double the Fed's 2% target, justifying the hawkish dissent among Fed officials.

The upcoming week includes crucial economic releases, such as ISM manufacturing data and the monthly non-farm payroll report, which will influence future interest rate expectations.