Up & Adam

Latest edition · July 23, 2026

Up and Adam

This report highlights rising market volatility driven by geopolitical conflict and policy uncertainty, while noting resilience in consumer spending and strength in AI-related tech sector earnings.

The July 23, 2026, 'Up & Adam' daily update notes that the World Bank has warned of a potential downside in global GDP growth to 1.3% due to the protracted Iran conflict. Despite macro challenges, consumer credit data from Synchrony and Capital One remains strong, signaling resilience in consumer spending. Meanwhile, Alphabet's positive earnings and rising hyperscaler capex forecasts underscore strong demand for AI infrastructure, even as short-term rates climb and market volatility concerns persist due to global policy uncertainty.

Key takeaways from the latest edition

• 1.World Bank warns that the ongoing Iran conflict may drive global GDP growth as low as 1.3%.
• 2.Consumer spending remains resilient despite inflation, evidenced by record purchase volumes from Synchrony and Capital One.
• 3.Rising policy uncertainty, linked to geopolitical conflict and midterm elections, is expected to increase market volatility.

What this series covers

• Previous Close
• Today's Events
• As Iran Conflict Drags On, World Bank Warns Of Worst-Case Scenario
• Despite Inflationary Pressures, Credit Card Companies Point To Strength In Consumer Spending
• Next Week's Fed Meeting (7/28-7/29) Is Back In Focus As 2-Year Treasury Yield Closes At 17-Month High
• Alphabet Kicks Off Mega-Cap Earnings On A Strong Note
• Rising Policy Uncertainty—Not Solely Due To Iran—May Lead To Increased Volatility
• Sector Performance

Edition archive

• Up and Adam

  July 23, 2026

• Up and Adam

  July 22, 2026

• Up and Adam

  July 21, 2026

• Up and Adam

  July 13, 2026

• Up and Adam

  June 29, 2026

• Up and Adam

  June 22, 2026