We unwind the week with a comprehensive, softly spoken tour of global markets as of July 18th, 2025. U.S. stocks held steady near all-time highs, buoyed by strong earnings and a surprisingly resilient consumer sector. We gently explore Treasury yield movements, the Fed’s subtle signals, and mixed economic data from China. Commodities like oil and copper remain firm, while gold finds footing. Bitcoin holds near recent highs amid stablecoin regulation progress. Plus, we reflect on the week’s major themes and what lies ahead. A calm close to the week for your mind and your feed.