Economic data included both Q1 and Q2 U.S. GDP growth data being revised upward. Personal income and spending rose, at a pace faster than inflation. Manufacturing survey data pulled back a bit, but remained solidly expansionary, as was construction spending. Home price appreciation continued to flatten, while the employment situation report showed weaker job growth than expected.

Stocks were mixed around the world, with little new geopolitical news, but continued rising interest rates weighing on sentiment. Bonds were down, along with those same yield changes. Commodities fell back, with little Middle East news, and some relief in various supply concerns.

Economic data included gains in S&P manufacturing and services PMI, further into expansion, and a rise in new home sales, while durable goods orders and jobless claims remained stable.

Equities gained around the world last week generally, with technology optimism outweighing concerns about inflation and the resulting higher yields. Bonds fared negatively due to those influences of higher rates. Commodity prices were pulled down by energy and precious metals, as hope for a Middle East solution rose.