Weekly Market Recap - Friday, 31-Jul

US equities were modestly higher this week, with the S&P 500 and Nasdaq both up for a second-straight week. Semis, memory, and AI infrastructure names sold off sharply at the beginning of the week, but a late week rebound was tabbed to factors including oversold conditions and a largely exhausted unwind. The July FOMC meeting ended with no rate change, as expected, though featured three dissents in favor of a 25 bp hike.