US equities finished higher in Monday trading, though ended well off best late-morning levels. Stocks extended last week's gains and last week's rotation into small caps, value, and cyclicals, and out of big tech, long momentum, and high beta groups. Fed Chair Powell said he wouldn't send signals around any particular meeting, which some early economist reads said suggests July may be off the table.

US equities ended higher this week, with the Dow Jones +1.59%, the S&P500 +0.87%, and the Nasdaq +0.25%. Small-caps and equal weight S&P 500 strongly outperforming the other major indexes following post-CPI rotation out of big tech, while at the same time, the official S&P 500 index reached all-time highs this week. June's CPI disinflation sparked rotation from big tech toward small caps and non-big tech groups, creating a relative drag on the S&P and Nasdaq. Big banks kicked off first round of corporate results and mostly underwhelmed. Biden spent the better part of the week rejecting calls for him to exit the presidential race. Fed Chair Powell concluded a largely uneventful two-day testimony before Congress, with big takeaway the two-sided risks to economy.

US equities finished mixed in Thursday afternoon trading. This morning's cooler-than-forecast June CPI report drove today’s price action. However, disinflation sparked rotation from big tech toward small caps and non-big tech groups, creating a relative drag on S&P and Nasdaq.