Weekly Market Recap - Friday, 19th July

US equity indices were mixed in this week's trading, with the market largely continuing to see a rotation out of big tech/growth/momentum and into value, cyclicals, and small caps. The week's big economic release was June retail sales, which were flat against expectations for a monthly decline. There was some notable Fedspeak, primarily a Monday appearance by Chair Powell in which he said incoming data has given policymakers more confidence on inflation.