As of Sunday, July 26, 2026, the S&P 500 sits at Friday's 7,411.98 close after a five-session week that delivered a -0.42% decline. The week's macro driver was the Iran-Hormuz escalation: Brent topped $100/barrel, WTI closed Friday at $89.31 (+7.31% WTD), and the first pause in US strikes in 13 nights (Jul 24-25) offered a tentative de-escalation signal. Thursday's -1.22% was the week's worst day on the Houthi Red Sea blockade announcement. Friday's +0.05% relief session saw cyclicals lead (XLB +2.23%, XLI +1.13%, XLF +0.80%). The 1-month 7,500 target is +1.19% above; 3-month 7,600 is +2.54% above; year-end 7,800 is +5.23% above. Week ahead: July 28-29 FOMC (Warsh press conference, no SEP), META Q2 (Wed Jul 29), AMZN Q2 (Thu Jul 30). Geopolitical incident claims reflect the desk's synthesis of cited conflict monitors, not independently re-verified.