Home / Chip and AI Selloff Continues, Pressuring Major Market Indices
AI-related semiconductor and infrastructure stocks remained under pressure this week, weighing on broader equity markets. Most major indices finished the week lower, with the notable exception of the small-cap Russell 2000. The Nasdaq-100 experienced the largest decline as investors continued to reduce exposure to technology and AI-related shares.
Looking ahead, second-quarter earnings season is expected to play a key role in determining market direction. Corporate results and management outlooks will provide important insight into the strength of the economy and whether the recent pullback in technology shares broadens or stabilizes.
The Bank of Canada concluded its policy meeting this week by leaving its benchmark interest rate unchanged at 2.25%, reflecting a cautious approach as policymakers continue to monitor inflation and economic growth.
Treasury Yields
• 30-year Treasury: 5.071% (higher)
• 10-year Treasury: 4.553% (lower)
Mortgage Rates
• Average 30-year fixed (Freddie Mac): 6.55% (higher)
Commodities & Currency
U.S. dollar index: 100.74 (lower)
Crude oil: $82.13 per barrel (much higher)
Natural gas: $3.385 (higher)
Gold: $4,020.20 per ounce (lower)
Silver $56.425 per ounce (lower)
The Treasury Department Monthly Statement, June
Federal Reserve
Industrial Production, June
+0.1% month, 1.1% year
Manufacturing unchanged month, +1.1% year
Mining +0.4% month, +2.4% year (Includes oil and gas production)
Utilities +0.4% month, +0.3% year
Commerce Department
Retail Sales, June +0.2%
Housing Starts
+19.0% June, +3.5% from June 2025
Single Family -0.2% month, -3.2% year
Multifamily +79.3% month, +19.3% year
Permits-3.0% June, -2.3% year (Permits are a sign of future housing starts.)
Labor Department
Consumer Price Index, June
-0.4%, month, +3.5%, 12 months
Biggest increase, utilities
Biggest decrease, gasoline
Excluding volatile food and energy, unchanged, month +2.6% year
Source: U.S. Department of Labor
Producer Price Index, June
-0.3% month, +5.5% year
Excluding volatile food and energy +0.1% month, +5.1% year,
Goods -1.4%
Services +0.2%
Source: U.S. Department of Labor
Import/Export Price Indexes
Import Prices +0.3% month, +7.7% year
Fuel Imports +0.4% month, +44.1% year
Nonfuel Imports +0.4% month, +4.2% year
Export Prices -0.6% month, +10.2% year
Jobless Claims (prior week)
New Claims 208,000 (lower)
4-week Moving Average 214,250 (lower)
Total Claims 1,805,000 (lower)
Energy & Industry Data
Energy Information Administration
Weekly Oil Production 13.861 million barrels (higher)
Natural Gas Storage +41 billion Ft3, above average for this time of year over the past 5 years.
Baker Hughes Rig Count
Oil rigs: +7 at 452
Gas rigs: unchanged at 126
Q2 Earnings FactSet Reported with 10% of S&P 500 companies reporting, Q2 earnings are up 24.7% from last year.
(All data was released the week of 07/13/2026)
(All monthly statistics are seasonally adjusted unless stated otherwise).
If you have questions about the markets or your financial plan, we’re always here to help.
Loren Rex – Emeritus
Erik A Smith, AIF® – President & C.E.O.
Nicholas Acri, CFP® – Partner & Wealth Advisor
Dylan Thomas, CFP® – Partner & Wealth Advisor
Jack Zeeb – Wealth Advisor
These are the opinions of Loren Rex and Erik Smith and are not necessarily those of Cambridge, are for informational purposes only, and should not be construed or acted upon as individualized investment advice. The Indices mentioned are unmanaged and cannot be invested into directly. The Dow Jones Industrial Average, Dow Jones, or simply the Dow, is a stock market index of 30 prominent companies listed on stock exchanges in the United States. The DJIA is one of the oldest and most commonly followed equity indexes. The Nasdaq Composite is a stock market index that includes almost all stocks listed on the Nasdaq stock exchange (more than 2500 stocks).
Chip and AI Selloff Continues, Pressuring Major Market Indices
Commentary
Home / Chip and AI Selloff Continues, Pressuring Major Market Indices
AI-related semiconductor and infrastructure stocks remained under pressure this week, weighing on broader equity markets. Most major indices finished the week lower, with the notable exception of the small-cap Russell 2000. The Nasdaq-100 experienced the largest decline as investors continued to reduce exposure to technology and AI-related shares.
Looking ahead, second-quarter earnings season is expected to play a key role in determining market direction. Corporate results and management outlooks will provide important insight into the strength of the economy and whether the recent pullback in technology shares broadens or stabilizes.
The Bank of Canada concluded its policy meeting this week by leaving its benchmark interest rate unchanged at 2.25%, reflecting a cautious approach as policymakers continue to monitor inflation and economic growth.
Treasury Yields
• 30-year Treasury: 5.071% (higher)
• 10-year Treasury: 4.553% (lower)
Mortgage Rates
• Average 30-year fixed (Freddie Mac): 6.55% (higher)
Commodities & Currency
The Treasury Department Monthly Statement, June
Federal Reserve
Industrial Production, June
Commerce Department
Retail Sales, June +0.2%
Housing Starts
Labor Department
Consumer Price Index, June
Source: U.S. Department of Labor
Producer Price Index, June
Source: U.S. Department of Labor
Import/Export Price Indexes
Jobless Claims (prior week)
Energy & Industry Data
Energy Information Administration
Baker Hughes Rig Count
Q2 Earnings FactSet Reported with 10% of S&P 500 companies reporting, Q2 earnings are up 24.7% from last year.
(All data was released the week of 07/13/2026)
(All monthly statistics are seasonally adjusted unless stated otherwise).
If you have questions about the markets or your financial plan, we’re always here to help.
Loren Rex – Emeritus
Erik A Smith, AIF® – President & C.E.O.
Nicholas Acri, CFP® – Partner & Wealth Advisor
Dylan Thomas, CFP® – Partner & Wealth Advisor
Jack Zeeb – Wealth Advisor
These are the opinions of Loren Rex and Erik Smith and are not necessarily those of Cambridge, are for informational purposes only, and should not be construed or acted upon as individualized investment advice. The Indices mentioned are unmanaged and cannot be invested into directly. The Dow Jones Industrial Average, Dow Jones, or simply the Dow, is a stock market index of 30 prominent companies listed on stock exchanges in the United States. The DJIA is one of the oldest and most commonly followed equity indexes. The Nasdaq Composite is a stock market index that includes almost all stocks listed on the Nasdaq stock exchange (more than 2500 stocks).
Sources:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRFPUS2&f=W
https://ir.eia.gov/ngs/ngs.html
https://www.freddiemac.com/pmms
https://www.wsj.com/market-data?mod=nav_top_subsection
https://bakerhughesrigcount.gcs-web.com/na-rig-count
https://www.census.gov/economic-indicators
U.S. Import and Export Price Indexes summary – 2026 M05 Results
FactSet Earnings Insight
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