Peter Ahl @Wealthbystrategy: "💲YTD 12.1% (as of Friday,..."

Sweden

💲YTD 12.1% (as of Friday, July 10) Weekly Report July 13-17 First, I apologize for the recent delay in my reports, caused by technical login problems on eToro’s website. I am in contact with eToro, which is working to resolve the issue. This update is being posted through the mobile app, which offers less reporting functionality. I expect to return to normal next week and will publish my completed June report as soon as possible. Most importantly, portfolio management and analysis are completely unaffected and continue as usual. I retain full app access, and you can contact me here as normal. 🌍 Overall Market Outlook I remain constructive on equities, but higher oil prices and geopolitical uncertainty have increased near-term risks. On Monday, renewed U.S.-Iran hostilities sent Brent crude 9.6% higher and pressured technology shares. The S&P 500 fell 0.8% and the Nasdaq 1.6%. Sentiment improved Tuesday after U.S. inflation cooled more than expected. Headline CPI fell 0.4% in June, lowering the annual rate from 4.2% to 3.5%, while core inflation eased to 2.6%. Solid bank earnings also helped the S&P 500 gain 0.38% and the Nasdaq 0.90%. JPMorgan and Goldman Sachs exceeded profit expectations, supported by trading and dealmaking. Goldman rose 9%, although expense concerns pushed Citigroup down 5.3%. On Wednesday, $ASML (ASML Holding NV) beat expectations and raised its 2026 sales forecast, lifting its shares around 4%. However, new U.S. strikes against Iran and threats to regional shipping kept Brent near $85. The softer CPI is encouraging, but current oil prices could affect future inflation. 📈 Past Week’s Market Activity The S&P 500 gained 1.23% and the Nasdaq Composite 1.74%, while the Dow fell 0.50% and the Russell 2000 lost 0.61%. Technology led, supported by enthusiasm for AI and memory chips, and $SKHY (SK hynix Inc ADR) rose almost 14% in its Nasdaq debut. The Federal Reserve’s June minutes showed increased concern about inflation. The 10-year Treasury yield rose from approximately 4.49% to 4.56%. Investors continued to reward growth, but bond and energy markets signalled a more demanding macroeconomic backdrop. 🧬 Portfolio Activity Last week I introduced a new holding, $NBIX (Neurocrine Biosciences Inc) . Neurocrine Biosciences develops medicines for neurological and hormone-related disorders. Its main medicine helps patients with involuntary movements caused by certain neurological conditions, while a newer product treats a rare inherited hormonal disorder. First-quarter product sales grew 44% year over year. I believe Neurocrine offers established products, strong sales growth and potential from treatments under development. It also adds healthcare exposure with business drivers less dependent on the AI cycle or consumer spending. I also sold my final position in $DECK (Deckers Outdoor Corp) . The decision reflected technical weakness and a valuation that I considered too high relative to expected growth. A good company is not automatically a good investment at every price. As usual, portfolio activity is likely to remain limited over the next few weeks. I prefer to review quarterly reports and, especially, management guidance before making updated assessments and larger portfolio decisions. 📅 The Week Ahead Markets will now focus on U.S. producer-price inflation on Wednesday and retail sales on Thursday. Warsh continues congressional testimony Wednesday. $TSM (Taiwan Semiconductor Manufacturing Co Ltd - ADR) and $NFLX (Netflix, Inc.) lso report Thursday, providing further evidence about AI demand and consumer spending. Guidance will matter at least as much as the historical results. Oil prices and developments around the Strait of Hormuz may still dominate shorter-term direction. My focus remains on company performance, reasonable valuations and decisions supported by current information. Wishing you a prosperous trading week ahead! 👍

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