Monthly Viewpoint: July 2026

Our current view on investments and the economy

July 2026

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Big Thought

There is never a lack of topics that seemingly impact financial markets. We could have picked from a long list this month. Think of all the daily newspapers, websites, videos and TV coverage dedicated almost entirely to financial news. That is a lot of information to consume. It is very hard to know which topics investors will find important enough to move stock prices and often when that becomes obvious the influence ends. Sometimes news even drives prices in the exact opposite direction that seems logical. It is our job to evaluate this information and occasionally make investment decisions based on it. Even as professionals for nearly three decades in the industry, we find much of it unnecessary and are constantly reevaluating what is worthy of our time. If we deem much of it unneeded, it should be obvious that the individual investor should spend significantly less—arguably zero—time consuming it. Regular readers of ours will know this is a topic we discuss in some form very often demonstrating our view of how important it is. Elsewhere on this page you can see the factors we believe are most important for financial markets at this time. We will continue to consume information and let you know what is most important, so you do not have to spend time doing so and risk acting with emotion due to the news.

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Chart of the Month               June 29, 2026

For years the handful of mega cap stocks often referred to as the Mag 7 dominated the stock market. Suddenly so far this year that has changed in a big way. Not only are those stocks as a group underperforming the S&P 500, but they are also substantially behind a

popular small cap stock index. While this trend can shift again at any time as sentiment changes, we take it as a positive that market performance has broadened. We still own and like the long-term potential of several of the Mag 7 but are finding plenty of investment opportunities in other areas as well.

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Greg Towner, CFA, CMT

Chief Investment Officer

Mr. Towner has worked in the investment industry since 1999 and received his MBA from the University of Central Florida and BA from the University of Mount Union. At Parallel he oversees the implementation of the firm's overall investment philosophy and is the Senior Portfolio Manager for several strategies. Prior to his current role Mr. Towner was comanager of large cap core and equity income portfolios totaling approximately $1 billion at Sterling Capital Management. He holds the designations of Chartered Financial Analyst and a Chartered Market Technician.

Brian Boughner, CFA, CMT

Principal

Mr. Boughner has worked in the investment industry since 2000 and holds a BS from Florida State University. He is a cofounder of Parallel, a Senior Portfolio Manager for several strategies and has developed the firm's quantitative tools. Prior to Parallel he had extensive experience with U.S. Trust, BB&T Wealth, Royal Bank of Canada (RBC Centura), Amsouth Bank, and Charles Schwab Co. Mr. Boughner holds the designations of Chartered Financial Analyst and Chartered Market Technician.

The information provided in this presentation should not be considered a recommendation to purchase or sell any particular security. Parallel Financial reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs. It should not be assumed that any of the securities transactions, holdings or sectors discussed were or will prove to be profitable, or that the investment recommendations or decisions we make in the future will be profitable. Investing involves the risk of loss of principal. There is no assurance that any securities, sectors or industries discussed herein will be included in all portfolios invested in the strategy. Clients have the ability to impose reasonable restrictions on the management of their account. You should contact Parallel Financial should your investment objective, time horizon or general financial situation change, or if you would like to have a meeting to discuss your account. Past performance is no guarantee of future results. The S&P 500 Index is unmanaged and it is comprised of primarily large capitalization stocks. Parallel Financial Partners is a member of Fiduciary Alliance, LLC. Fiduciary Alliance, LLC is a registered investment adviser. More information about the firm can be found in its Form ADV Part 2, which is available upon request by calling 864-385-7999 or emailing info@parallelfinancial.com.