Federated Hermes provides asset management services for institutional and individual investors. The firm had $911.6 billion in managed assets at the end of the second quarter of 2026, composed of equity (12%), multi-asset (less than 1%), fixed-income (11%), alternative (2%), and money market (74%) funds. The company's cash management operations are expected to generate around 52% of Federated's revenue this year, compared with 30%, 10%, and 8%, respectively, for the equity, fixed-income, and alternatives/multi-asset/other operations. The company's products are distributed via trust banks, wealth managers, and retail broker/dealers (67% of AUM), institutional investors (26%), and international clients (7%).

This is the biggest earnings week of this reporting season by volume, with nearly 1,600 public companies on the list. It's also a jobs week. The major indices -- especially the Nasdaq -- had a volatile last week. The Dow Jones Industrial Average and the S&P 500 both ended up 1%, while the Nasdaq gained about 1.5%. Year to date, all three indices are in positive territory and all are up by about 9%. On the earnings calendar, headliners include Palantir Technologies and Marriott on Monday; SpaceX, AMD, Caterpillar, Merck, and McDonald's on Tuesday; Eli Lilly, Walt Disney, Sandisk, Uber, and CVS Health on Wednesday; ConocoPhillips, Parker-Hannifin, and Constellation Energy on Thursday; and Berkshire Hathaway on Friday. Some 42% of S&P 500 companies have reported as of last week. Earnings so far are up a whopping 40% from last quarter, with Energy and Communication Services leading the charge and Healthcare at the bottom. On the economic calendar, the jobs report for July comes out on Friday. Ahead of that, several other labor indicators will hit the tape, including the Job Openings and Labor Turnover Survey (JOLTS) and the ADP employment report. Turing to economic forecasts, gas prices ticked up last week, rising 10 cents to an average of $4.10 per gallon for regular gas. Elsewhere, the Atlanta Fed GDPNow forecasts call for 3Q GDP growth of 5.0% -- a big jump from the 1.5% reported last week for 2Q. The Cleveland Fed Inflation Nowcast forecasts is for CPI of 3.4% in July, unchanged from last week's forecast. Mortgage rates rose another eight basis points last week, with the average 30-year fixed-rate mortgage now at 6.66%, according to FreddieMac. The next Federal Open Market Committee rate decision is on September 16. Odds are at 63% for a rate hike at that meeting, up from 37% last week. Taking a deeper dive into performance so far in 2026, a leading industrialized global stock market index, the ETF EFA, is up 10% year to date, while the leading emerging market ETF (EEM) is up 17%. U.S. growth stocks are down 1% looking at ETF IWF, while value stocks (IWD) are up 19%. Crude oil prices continue to be volatile. On Friday, oil closed at $85 per barrel and is up 46% for the year to date. In other asset classes for the year to date, AGG bonds are down 3%, gold is down 7%, and Bitcoin is down 28%. The U.S. dollar is up 2%, tracking DXY. The VIX Volatility Index was at about 17 on Friday, below its historical average of 20. Turning to sector performance, the list from first to worst so far in 2026 is Energy (+32%), Information Technology (+22%), Industrials (+15%), Materials (+14%), Real Estate (+12%), Consumer Staples (+10%), Healthcare (+6%), Utilities (+5%), Financials (+4%), Consumer Discretionary (-6%), and Communication Services (-10%).

Federated Hermes, based in Pittsburgh, is an asset management holding company with about $912 billion in AUM as of June 30, 2026. It offers equity, fixed-income, and money market funds. The company's clients include high-net-worth individuals, registered investment advisors, pension funds, charities, and government organizations. Federated Hermes takes a relatively conservative, long-term approach to investing.

Federated Hermes provides asset management services for institutional and individual investors. The firm had $907.1 billion in managed assets at the end of the first quarter of 2026, composed of equity (11%), multi-asset (less than 1%), fixed-income (11%), alternative (2%), and money market (75%) funds. The company's cash management operations are expected to generate around 53% of Federated's revenue this year, compared with 30%, 10%, and 7%, respectively, for the equity, fixed-income, and alternatives/multi-asset/other operations. The company's products are distributed via trust banks, wealth managers, and retail broker/dealers (67% of AUM), institutional investors (26%), and international clients (7%).