Golf, Giving Back, and Good People
I had the privilege of being invited to the Ancestors 2026 weeklong golf tournament, where I joined approximately 80 business leaders from across the country.
A special thank you to Kevin Kaylakie for the invitation and for allowing me to be part of such an incredible experience.
Even more meaningful, Ancestors raised more than $225,000 for the Evans Scholars Program. What an honor to be part of an amazing group of people who came together not only to enjoy the game of golf, but to make a meaningful difference in the lives of deserving young people.
Next event on tap was an invite to the Barstool Invitational with my friends at DraftKings! Three rounds of golf in Branson, great conversations, plenty of laughs, and a few late-night extracurricular activities along the way. Always a great time when good people get together!
Lastly, I had the opportunity to spend some time with our new friends, the Merkel family, releasing hundreds of rounds and enjoying some great company. Special thanks to Henry and Chris for the invitation!
Grateful for the friendships, the experiences, and the incredible people I’ve had the opportunity to spend time with along the way. A summer filled with golf, great conversations, new friendships, and memories that will last a lifetime. ⛳️
A Look Across the Market
Where Things Stand as Q3 Begins
Here’s a quick snapshot of how markets moved recently:
Stocks moved in different directions in July. Investors started pulling back from tech and AI stocks as questions about whether AI is actually making money yet heated up ahead of earnings season. Emerging markets felt that pressure too. Developed markets were the one bright spot.
Inflation and Interest Rates.
The Fed held rates steady at 3.50% to 3.75% for the fifth meeting in a row. Three members dissented, there was no clear guidance on what’s next, and renewed tensions in Iran pushed long-term rates higher. The 30-year yield hit its highest level since 2007. Rates aren’t coming down anytime soon.
The Strait of Hormuz.
The ceasefire that looked promising in June fell apart in July. Both sides resumed strikes, Iran moved to block oil tankers, and the U.S. resumed its blockade. Oil is back above $90 a barrel. Energy costs are back in the conversation.
Big Tech Was a Mixed Bag.
Microsoft and Amazon had strong quarters on cloud revenue, which helped ease some of the concern around AI paying off. Meta was a different story. Investors got vague answers about spending plans through 2027, and the stock sank. When you can’t tell people where the money is going, they notice.
What We're Watching Right Now
A few things worth paying attention to this month:
The Fed Holds Rates Steady.
At its July meeting, the Fed kept rates at 3.50% to 3.75%. Three members wanted to raise rates a quarter point. They were outvoted. The disagreement tells you something — there’s no consensus on where the economy is headed. Inflation, jobs, growth: policymakers are weighing all of it. The takeaway for you is the same as always. Don’t let short-term Fed decisions drive long-term financial decisions.
Big Tech Earnings Keep AI Spending in Focus
Investment in artificial intelligence infrastructure remains a major theme this earnings season. Investors are watching closely for signs of how that spending may translate into revenue, productivity, and longer-term growth.
Prime Capital Financial Chief Investment Officer Will McGough recently joined Yahoo Finance to discuss what investors should be watching.
For more, visit the Prime Capital Financial blog.
From Joe
I spent years in the Air Force before I ever sat across from a client, and that shaped me more than any credential on my wall ever could.
Folds of Honor, the VFW, and now my own book of business. Different rooms, but the same standard runs through all of them: show up, do right by people, don’t cut corners.
I didn’t leave that behind when I took the uniform off. I just found a new way to serve.
Joe Harrish
