Today, SPX ▪ Set the lowest point of the last 10 days ▪ But closed +0.97% off the daily low ▪ While VIX closed under 17 And how did SPX do the "next day" after the 10 most recent events just like this one? +0.1% -0.2% -2.4% -1.7% +1.3% -1.5% -0.1% -1.7% -1.6% -2.1%

U.S. HOME PRICES BEAT EXPECTATIONS IN JUNE U.S. 20-city home prices rose 0.2% month-over-month in June, above the 0.1% consensus and matching May. Prices increased 2.1% year-over-year, accelerating from 1.6% in May and beating expectations of 1.7%. On a non-seasonally adjusted basis, prices rose 0.4%, slowing from May’s 0.9% gain.

The CoinDesk 20 is currently trading at 2171.96, down 0.2% (-4.96) since 4 p.m. ET on Wednesday. Thirteen of 20 assets are trading higher. Leaders: $ICP (+9.7%) and $DOT (+1.7%). Laggards: $BCH (-1.2%) and $NEAR (-1.0%).

NINE OF ELEVEN S&P 500 SECTORS CLOSED RED TODAY Semiconductors and energy were the only places that worked: - AMD $AMD +3.0% - Micron $MU +2.8% - Exxon $XOM +2.2% - Chevron $CVX +1.9% - Intel $INTC +1.7% Meta $META +6.6% was the largest gain in the S&P 500, while Google $GOOGL -2.3% split Communication Services down the middle. Industrials were the worst sector at -1.5%, led lower by GE $GE -2.8%, GE Vernova $GEV -2.1% and Boeing $BA -2.0%. Only 2 of 35 industrials and 2 of 11 communication services names finished green.

France Industrial Production (M/M) Jul: -0.4% (est 0.2%; prev 0.1%; prev R -0.1%) - Industrial Production (Y/Y): -0.5% (est 0.4%; prev -0.1%) - Manufacturing Production (M/M): -0.8% (est 0.4%; prev -1.1%; prev R -1.0%) - Manufacturing Production (Y/Y): -2.0% (prev -1.7%; prev R -1.5%)

Home Depot Q2 2026 Earnings: - Net Sales $47.86B (est $47.33B) - Comp Sales 1.7% (est +0.94%) - US Comp Sales +1.3% (est +0.85%) - Merchandise Inventories $26.85B (est $26.29B) - Adj EPS $4.92 (est $4.73) - Still Sees FY Comp Sales About 0% TO +2% (est +1.2%) - Reaffirms Fiscal 2026 Guidance

🇺🇸US DATA RUNS HOT: INFLATION STICKY, DEMAND FIRM INFLATION • Headline PCE MoM: +0.2% vs +0.1% est.; prior -0.1% • Headline PCE YoY: +3.7% vs +3.6% est.; prior +3.7% • Core PCE MoM: +0.2% vs +0.2% est.; prior +0.1% • Core PCE YoY: +3.3% vs +3.3% est.; prior +3.3% GDP • Q2 GDP annualized: +1.5% vs +1.5% est.; prior +1.5% • Personal consumption: +3.4% vs +3.2% est.; prior +3.2% • GDP Price Index: +6.4% vs +6.2% est.; prior +6.2% • Core PCE QoQ: +3.6% vs +3.4% est.; prior +3.4% INCOME & SPENDING • Personal income MoM: +0.4% vs +0.2% est.; prior +0.2% • Personal spending MoM: +0.2% vs +0.1% est.; prior +0.3% • Real personal spending MoM: 0.0% vs 0.0% est.; prior +0.4% DURABLE GOODS • Durable goods orders MoM: +1.1% vs +0.5% est.; prior +0.5% • Durables ex-transportation: +0.4% vs +0.6% est.; prior +0.7% • Core capital goods orders: +0.2% vs +0.7% est.; prior revised to +1.7% • Core capital goods shipments: +1.4% vs +1.0% est.; prior revised to +2.4% BOTTOM LINE: Inflation remains sticky while consumer demand and headline durable goods beat expectations. GDP growth was in line, but stronger price pressures could keep the Fed cautious on rates.