Influenced by factors such as the easing of tensions in the Middle East and stronger-than-expected economic data that have bolstered expectations for the Federal Reserve’s accommodative monetary policy, the three major U.S. stock indexes all posted gains last week. Among them, the Dow Jones Industrial Average rose a cumulative 3.82% for the week, the S&P 500 index climbed by 3.44%, and the Nasdaq Composite surged by 4.25%. As of last Friday, both the S&P 500 and the Nasdaq had fully recovered all previous losses and both reached new all-time highs. In the coming weeks, whether U.S. stocks can sustain their upward momentum has become the market’s primary focus. Over the past 15 years, July has consistently been the strongest-performing month for U.S. stocks, with an average gain of 2.9%.

Last week, international oil prices fell sharply.

In terms of crude oil futures, the ceasefire agreement between Israel and Iran has taken effect, easing market concerns about disruptions to oil supplies in the Middle East. As a result, international oil prices plunged sharply last week, erasing all the gains made since the outbreak of the Israel-Iran conflict. U.S. crude oil prices have fallen by a cumulative 12.56%, while Brent crude oil prices have dropped by a cumulative 12.00%.

Last week, international gold prices fell by nearly 3%. In the precious metals futures market, as risk-aversion sentiment in the market eased, gold prices continued to decline, with international gold prices accumulating a drop of 2.90% over the past week.

The major oil-producing countries will meet this week to discuss whether to further increase production in August.

This Sunday, local time, the eight key member countries of “OPEC+” will hold a meeting to discuss their production policy for August. The market generally expects that the eight major OPEC+ members may once again seek to increase daily output by 411,000 barrels in August. Analysts believe that the strengthening of U.S. stocks, the weakening of the U.S. dollar, and the onset of the peak summer travel season in the United States will provide support for oil prices. However, the decision by OPEC+’s major oil-producing countries to increase production will weigh on oil prices. As a result, the future trend of international oil prices remains highly uncertain.