Throughout each week, I post threads on the economic happenings most days.

Every weekend I compile that info & throw it into a Market Outlook/Recap article.

It's A LOT to sift through, so below is a quick highlight for each day.

Outlook: I'm leaning neutral as earnings are winding down and next week doesn't have much data, so next week will be driven by technicals and yields imo. $SPX closed this week right at mykey level from last week around 4,450 and the 50 day SMA has come up to that level too. Waiting for support or break before playing a move in the same direction.

Monday: The Fed's consumer credit report came in at $17.9B increase, compared to an expected $13B. This jump was primarily caused by a jump in nonrevolving credit, whereas revolving credit had its first decline since April 2021.

Tuesday: The Small Business Optimism Survey hit 91.9 for July, under the expected 92.1 but over the prior 91.0. This is the highest level in 8 months and inflation concerns hit the lowest level in nearly 2 years.

Wednesday: MBA Mortgage Applications were down 3.1% this week. Purchases were down 3% and refinances were down 4%. The 30 year mortgage rate rose to 7.09%.

Thursday: CPI was up 0.2% MoM and 3.2% YoY and the core reading was up 0.2% MoM and 4.7% YoY. Expectations were spot on for this reading. The shelter index accounted for more than 90% of the increase in the all-items index. Less shelter, the all-items index was up just 1% YoY.

Friday: The PPI came in at 0.3% MoM, just over 0.2% expectations. Core PPI was also up 0.3%, compared to a 0.2% expectation. Wholesale inflation has come down since its peak in 2022, but the recent increase in energy costs could cause concern that further improvement in inflation may be delayed.

Of course there were more items to cover for the week and predictions to make for next week, so check out the full recap and outlook article below!