Interpreting Q2 2026 US Economic Data for Informed Wealth Management Strategies

Explore how the latest US second quarter economic figures influence consumer behavior, inflation trends, and investment outlooks crucial to high net worth wealth-management decisions.

Award-winning Financial Advising

Robertson Stephens Wealth Management, LLC.

Explore how the latest US second quarter economic figures influence consumer behavior, inflation trends, and investment outlooks crucial to high net worth wealth-management decisions.

Robertson Stephens paid no fee to obtain recognition but has paid licensing fees to reference its appearances on the Newsweek, USA Today, and FA Magazine rankings lists.

See Awards Disclosures

Week of August 02, 2026 – Weekly Economic Commentary

The Bureau of Economic Analysis (BEA) released considerable, albeit preliminary, data on the US economy in the second quarter and much of the story got lost in the glare of Kevin Warsh’s problematic second press conference as Chairman of the Federal Reserve. The first estimate of US Q2 GDP growth was 1.5%, somewhat below expectations which were averaging around 2%. However, what economists delight in calling “real sales to private domestic purchasers” — aka consumer spending and fixed investment — rose a very strong 3.9%, mitigating the significant drag from imports that exceeded exports. Government spending decreased slightly and continues to be a largely neutral force in providing economic stimulus. At the same time, the price index for domestic purchases rose an eye-popping 5.7% during the quarter, compared to 3.6% in the first quarter. Much of this price increase was driven by energy prices, and looking at the core PCE for the quarter told a different tale, rising 3.4% compared to 4.4% in the first quarter. Nevertheless, in these numbers one can better understand the three dissenting votes at the interest rate meeting of the FOMC (Federal Reserve); very strong domestic demand and very strong domestic price increases, carrying a “5” handle, no less. And it all comes into this week with the employment numbers for July, since continued employment growth is likely to provide a continuing reason for consumers to look past the price increases as much as possible and spend money as they have been, relying on savings and credit cards and wealth increases equity markets. It is not rocket science to say that the foundation of third and fourth quarter US economic growth will be what happens with consumers and business investment in coming months.

Data to Watch

US JOLTS Job Openings for June, released Tuesday, August 4
US Institute for Supply Management (ISM) Services Sector Purchasing Managers Index for July, released Wednesday, August 5
US NonFarm Payrolls and Unemployment Rate for July, released Friday, August 7

Week of August 02, 2026 – Weekly Economic Commentary

Get your wealth management guide

Get the brochure to learn everything you need to know about your wealth management today.

1. Proactive Strategies to Guard Against Wealth Pla...

Stable economic data and company fundamentals theres an undercurrent of fear and uncertainty that may lead to further market volatility Its important to stay alert during these turbulent times and proactively guard against risks One area to review is leverage in the form of margin loans and pledged asset lines or lines of credit LOC

2. Managing Your Wealth Plan as Inflation Stabilize...

Consumer prices were up 28 in February from a year earlier per the Labor Department Wall Street Journal A slightly higher long-term inflation rate is unlikely to derail most retirement plans assuming historical market returns hold However those who rely on fixed income sources may face greater challenges and retirees with structured spending plans could feel increased financial pressure... | continue reading

3. Staying the Course: Wealth Planning Amid Geopoli...

Geopolitical tensions and rising energy prices are rattling markets Staying disciplined with a diversified wealth plan is the most effective response during

"Investment advisory services offered through Robertson Stephens Wealth Management, LLC (“Robertson Stephens”), an SEC-registered investment advisor. Registration does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. This material is for general informational purposes only and should not be construed as investment, tax or legal advice. It does not constitute a recommendation or offer to buy or sell any security, has not been tailored to the needs of any specific investor, and should not provide the basis for any investment decision. Please consult with your Advisor prior to making any Investment decisions. The information contained herein was carefully compiled from sources believed to be reliable, but Robertson Stephens cannot guarantee its accuracy or completeness. Information, views and opinions are current as of the date of this presentation, are based on the information available at the time, and are subject to change based on market and other conditions. Robertson Stephens assumes no duty to update this information. Unless otherwise noted, any individual opinions presented are those of the author and not necessarily those of Robertson Stephens. Indices are unmanaged and reflect the reinvestment of all income or dividends but do not reflect the deduction of any fees or expenses which would reduce returns. Past performance does not guarantee future results. Forward-looking performance targets or estimates are not guaranteed and may not be achieved. Investing entails risks, including possible loss of principal. Alternative investments are only available to qualified investors and are not suitable for all investors. Alternative investments include risks such as illiquidity, long time horizons, reduced transparency, and significant loss of principal. This material is an investment advisory publication intended for investment advisory clients and prospective clients only. Robertson Stephens only transacts business in states in which it is properly registered or is excluded or exempted from registration. A copy of Robertson Stephens’ current written disclosure brochure filed with the SEC which discusses, among other things, Robertson Stephens’ business practices, services and fees, is available through the SEC’s website at: www.adviserinfo.sec.gov. © 2026 Robertson Stephens Wealth Management, LLC. All rights reserved. Robertson Stephens is a registered trademark of Robertson Stephens Wealth Management, LLC in the United States and elsewhere. A3658"

Robertson Stephens Capital Team

Award-winning Financial Advising

Don’t Just take our word for it

Exceptional Financial Advisory
Trusted wealth management firm with institutional-quality investment solutions
Elevate Your Wealth Management Experience
Achieve your objectives for today, for tomorrow, and across generations with our help faster.
We Are Your Fiduciary Partner
Get comprehensive wealth planning, and intelligent digital solutions for you and your family.

Testmonials

Testimonials provided by current clients of Robertson Stephens. Testimonials may not be representative of the experience of other customers and are no guarantee of future performance or success.

We have been clients of Michael Tierney for over 15 years. Michael stays well attuned to the various market issues and specifically follows strategists who have proven track records and philosophies. His frequent news emails have been especially helpful in keeping us informed of market happenings with his ongoing thoughts and educating us. On a more personal note, Michael has always been easily approachable, encouraging us to call anytime to answer questions or entertain ideas. There have also been personal business visits during which we appreciate Michael’s warmth and friendliness. His assistants through the years have also been very helpful in handling any necessary matters.

Client of over 15 years

Michael Tierney and his daughter Grace have been a breath of fresh air in handling our client's matters, and I am pleased to provide this testimonial on their behalf.

Client of 2 years

After being introduced via trusted friends and neighbors, we have worked with Frank Corrado and team for over 10 years. The life transition we were facing was planning for our retirements. My husband and I have a seven-year age difference, so working with Frank, we established goals that reflected our greatest hopes for the future: paying off our mortgage by the time Sydney was 65, giving him financial freedom to return part-time to substitute teaching, while also helping me with a plan to retire from my full-time position in NYC when I turned 65. The mantra was always - how do we approach our portfolio in a way that allows us to sleep well at night and know that our savings will cover us for the remainder of our lives but would also allow for growth? Helping fund a grandchild's education, paying for two weddings, investing in the upkeep and upgrade of our beloved home of 30-plus years, ensuring plenty of funds to cover our love of travel, and devising strategic giving plans that supported our philanthropic goals were all reflected in our financial plan. Most importantly, Frank and his team are part of our family, committed to our well-being, going above and beyond to coordinate with our lawyer, insurance broker and even my mother's financial advisors! Frank believes in living your best life; he's committed to helping us ensure this is possible for our entire family.

Dana & Syd

Get your wealth management guide

Get the brochure to learn everything you need to know about your wealth management today.

Questions

How does Robertson Stephens Wealth Managers get paid?

We work on a fee-based model, which means our compensation is tied to the assets we manage for you rather than commissions on products we sell. This aligns our interests with yours - when your portfolio grows, we do better too. The specific fee structure varies by client based on your situation and needs.

How does Robertson Stephens manage investments?

We build personalized portfolios based on your specific situation, including your risk tolerance, tax sensitivity, liquidity needs, and values. We use a disciplined approach that balances long-term growth strategies with short-term opportunities when they make sense. We continuously monitor your investments and adjust as needed, drawing on institutional-quality research and due diligence.

Can Robertson Stephens help me create a financial plan?

Yes. Every financial plan at Robertson Stephens is completely customized to you. Our advisors conduct an in-depth discovery process to understand your specific needs, goals, and concerns, then build a bespoke wealth plan tailored to your unique situation - covering everything from your risk profile to your tax sensitivity, liquidity needs, and even your personal values.

Explore more wealth management

ultra high-net-worth

fiduciary

wealth management

investing