Laura Romera Martinez @Hendermith: "☕📈 HENDERMITH MORNING BRIEF Friday, August..."

Spain

☕📈 HENDERMITH MORNING BRIEF Friday, August 14, 2026 Good morning, investors. Markets enter Friday after the S&P 500 closed at another record high, supported by technology shares and encouraging inflation data. July producer prices were unchanged on the month, adding to this week’s evidence that price pressures may be gradually cooling and reducing expectations of another near-term Federal Reserve rate increase. Today the focus moves from inflation to the consumer. With household spending central to U.S. economic growth, July’s retail sales figures will provide an important test of whether demand remains resilient as the labour market shows signs of cooling. 🌍 Today’s Perspective • July Retail Sales are today’s key U.S. release and will offer a fresh reading on the strength of consumer spending. • Preliminary University of Michigan Consumer Sentiment will provide another perspective on household confidence, alongside closely watched inflation expectations. • Business Inventories will add context on the balance between corporate sales and accumulated stock as companies navigate changing demand conditions. • Treasury yields remain an important signal after softer CPI and PPI readings this week reduced expectations for additional near-term monetary tightening. 💭 Today’s Thought Markets celebrate new highs, but price alone tells us little about future returns. The discipline lies in continuing to evaluate quality, valuation and capital allocation even when sentiment is strong. A rising market should never replace a sound investment process. Have a great Friday, and thank you for joining me for another HENDERMITH MORNING BRIEF. For informational purposes only — not investment advice. Laura 📡 On my radar $MSFT (Microsoft) • $GOOGL (Alphabet Inc Class A) • $VRT (Vertiv Holdings Co) • $ETN (Eaton Corp PLC) • $VUSA.NV (Vanguard S&P 500 UCITS ETF)

Not investment advice. The author may have financial interests in the mentioned instruments.