--- title: Weekly Market Update - Summer Temperatures & Stocks Soar High description: Here is the weekly market report as of 28th July 2023 and the snapshot of US Indices and the Sensex in comparison. image: https://www.financialplanningindubai.com/hubfs/WEEKLY%20MARKET%20UPDATE%20-%2031ST%20JULY%202023-2.png --- [![Financial_Planning_in_Dubai_logo](https://www.financialplanningindubai.com/hs-fs/hubfs/Financial%20Planning%20in%20Dubai%20Logo_9090-2.png?width=90&height=90&name=Financial%20Planning%20in%20Dubai%20Logo_9090-2.png "Financial_Planning_in_Dubai_logo")](https://www.financialplanningindubai.com/?hsLang=en-gb) - [Home](https://financialplanningindubai.com/) - [Blog](https://www.financialplanningindubai.com/blog) - [Services](https://www.financialplanningindubai.com/services) - [Islamic Investments & Takaful Plans](https://www.financialplanningindubai.com/blog/salama-hyat-plus-takaful-plan) - [Medical Insurance](https://www.financialplanningindubai.com/blog/topic/medical-insurance) - [Free Resources](https://www.financialplanningindubai.com/free-finanical-tools) - Tools - Calculators - [S&P 500 Investment Calculator](https://financialplanningindubai.com/sp-500-investment-calculator/) - [Life Insurance Calculator](https://www.financialplanningindubai.com/life-insurance-calculator) - [SIP Calculator](https://financialplanningindubai.com/sip-calculator/) - [Lumpsum investment calculator](https://www.financialplanningindubai.com/lump-sum-investment-calculator) - [Inflation Calculator](https://www.financialplanningindubai.com/inflation-calculator-uae) - [Net-Worth Calculator](https://www.financialplanningindubai.com/blog/free-personal-balance-sheet-template-networth-statement) - [The Best Budget Planner for Expats](https://www.financialplanningindubai.com/expat-budget-planner) [Book A Discovery Call](https://www.financialplanningindubai.com/meetings/damodhar?hsLang=en-gb) # Weekly Market Update - Summer Temperatures & Stocks Soar High ![Damodhar Mata](https://app.hubspot.com/settings/avatar/e63bc971ec29ebe6c012fd042c1a8215) [Damodhar Mata](https://www.financialplanningindubai.com/blog/author/money-mata-aka-damodhar-mata) 31 Jul 2023, 20:41:51 ###### [Weekly Market Update](https://www.financialplanningindubai.com/blog/topic/weekly-market-update) The summer temperatures and the stocks on Wall Street have been soaring high in the last few weeks. On Thursday, the Dow Jones Industrial Average tied a record from 1987 after going up for 13 days in a row since July 7.  The positive streak of the DOW ended in response to the increase of interest rates by 0.25% by the US central bank, bringing the new range from 5.25% to 5.5%. The earnings season is in full swing; corporate news has been quite good. 81% of the S&P 500 companies have beaten earnings estimates, which is better than the usual 77% beat rate.  The stock rally will be tested again this week, with 165 S&P 500 companies( including index heavyweights like Apple and Amazon) expected to report their latest quarterly results.  Meanwhile, this week, more economic data, including July payrolls and the closely watched job openings reports, could shape market movements. Here is a snapshot of the global indices; ![YTD snapshot of US and India Sensex as of 28th July 2023 - Weekly market Update - Source Google ](https://www.financialplanningindubai.com/hs-fs/hubfs/Weekly%20Market%20Update%20-%20Snapshot%20of%20Indices.png?width=567&height=545&name=Weekly%20Market%20Update%20-%20Snapshot%20of%20Indices.png) Source: Google [Here is next week's market update](https://www.financialplanningindubai.com/blog/weekly-market-update-07/08/2023-aaa-to-aa?hsLang=en-gb) ![Damodhar Mata](https://app.hubspot.com/settings/avatar/e63bc971ec29ebe6c012fd042c1a8215) [Damodhar Mata](https://www.financialplanningindubai.com/blog/author/money-mata-aka-damodhar-mata) Author, Blogger & Independent Financial Advisor. My goal is to give you actionable tools for creating passive income and building wealth. More than 10,000 expats have already used my ideas to jumpstart their journey towards financial independence. Connect with me to start yours... Share this article on [mailto:?subject=Check%20out%20Weekly%20Market%20Update%20-%20Summer%20Temperatures%20&%20Stocks%20Soar%20High%20&body=Check%20out%20https://www.financialplanningindubai.com/blog/weekly-market-update-31/07/2023](mailto:?subject=Check%20out%20Weekly%20Market%20Update%20-%20Summer%20Temperatures%20&%20Stocks%20Soar%20High%20&body=Check%20out%20https://www.financialplanningindubai.com/blog/weekly-market-update-31/07/2023) ##### Read more - [The Real C-Suite – The Only Title That Matters 🏆](https://www.financialplanningindubai.com/blog/breadwinner?hsLang=en-gb) - [The Wealth Secret 99% of Investors Ignore – Will You?](https://www.financialplanningindubai.com/blog/the-iceberg-of-investing?hsLang=en-gb) - [From Risk to Reward? 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[Read More](https://www.financialplanningindubai.com/blog/five-maxims-for-successful-investing?hsLang=en-gb) [![Double Trouble? - Weekly Market Update](https://www.financialplanningindubai.com/hs-fs/hubfs/Money%20Matas%20Newsletter-2.png?width=300&name=Money%20Matas%20Newsletter-2.png)](https://www.financialplanningindubai.com/blog/double-trouble-weekly-market-update?hsLang=en-gb) ###### [Weekly Market Update](https://www.financialplanningindubai.com/blog/topic/weekly-market-update) ##### [Double Trouble? - Weekly Market Update](https://www.financialplanningindubai.com/blog/double-trouble-weekly-market-update?hsLang=en-gb) ## Double Trouble? The markets opened in the red last week, continued to struggle until Thursday, and... 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