FINANCIAL BLOG

Within fixed income markets, a tug of war has unfolded between two opposing forces, much like the classic tale of Dr. Jekyll and Mr. Hyde. The benevolent Dr. Jekyll emerges when economic data suggests weakness, which leads to lower interest rates and relief for borrowers.

LPL Research provides its Weekly Market Performance for the week of July 14, 2025. Major U.S. averages traded mixed on the week, with technology names powering modest gains for the S&P 500 and growth-laden Nasdaq. Stocks broadly traded in a narrow range over the last five days as market participants digested corporate earnings alongside ongoing Federal Reserve (Fed) independence and trade concerns.

If “tariff” isn’t the word of the year for stock investors so far, then perhaps it’s “uncertainty.” Uncertainty around trade policy dominated the path of the stock market in the first half and will continue to play a large role in the second half. Tariffs influence the key drivers of stock market performance: economic and corporate profit growth, inflation, and interest rates.