July 10, 2026

Stock indexes closed broadly higher yesterday, with the S&P 500 gaining +0.8%

International

The main US stock indexes closed yesterday's session with positive results. The S&P 500 advanced 0.8% on the day and has accumulated a 10.2% gain so far this year; the Nasdaq rose 1.3% on the day, with a year-to-date increase of 12.8%; while the Dow Jones gained 0.3% on the day, accumulating a 9.2% gain in 2026.

The minutes from the Federal Reserve's June meeting, published last Wednesday, revealed significant changes in the institution's leadership during the first meeting chaired by Kevin Warsh. The post-meeting statement eliminated language referring to a bias toward lowering interest rates and considerably reduced its length compared to previous statements. The creation of five independent working groups to review the conduct of monetary policy and the institution's communication practices was also announced. The decision to maintain the benchmark interest rate in the 3.50%-3.75% range was approved unanimously (12 to 0), although the minutes reflected divided opinions among participants regarding the future direction: one group considered a level similar to or slightly lower than the current one appropriate toward the end of the year, while another group estimated that a higher level would be appropriate.

Meanwhile, on the regional front, Mexico released its June inflation data yesterday: the Consumer Price Index (CPI) rose 3.37% year-on-year, below the consensus of analysts (3.52%) and the previous figure (3.94%), with a monthly variation of -0.27%. Core inflation stood at 4.03% year-on-year and 0.24% month-on-month, both also below the consensus of analysts. Meanwhile, Brazil published its June data this morning: the year-on-year CPI was 4.64%, below the consensus of analysts (4.80%) and the previous one (4.72%), with a monthly variation of 0.16%, also below the consensus of analysts (0.31%).

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