Finance

Wall Street wrapped up a highly turbulent month with a late-week rally that pushed the main benchmarks higher over the final sessions. Despite the late gains, the S&P 500 and the Nasdaq Composite finished July with monthly losses. Conversely, the blue-chip Dow Jones Industrial Average managed to eke out a slim monthly advance, marking its fourth consecutive positive month.

Bond yields marched higher as investors weighed persistent inflation concerns and a hawkish tone from the Federal Reserve. The 10-year Treasury yield climbed past 4.7% to its highest level in over a year, while the 30-year bond yield reached levels not seen since 2007. The fixed-income sell-off intensified after the Federal Reserve opted to hold interest rates steady despite rising internal dissent calling for a rate hike.

Energy markets experienced significant upward pressure due to escalating military tensions between the U.S. and Iran. Domestic crude oil bounced back above $85 per barrel, bringing its total gains for the month of July to roughly 21%. The closure of the Strait of Hormuz has stoked fears of sustained high energy costs and broader inflationary pass-through.