U.S. M2 reaches record $23.22 trillion after July gain

U.S. M2 rose $102.8 billion in July to a record $23.22 trillion. The increase marked the 27th consecutive month of expansion. M2 stood $1.43 trillion above its previous peak from March 2022. M2 increased $862.7 billion since the start of 2026. The Federal Reserve defines M2 as currency in circulation, demand deposits, savings accounts, short-term deposits, and retail money market funds. M2 expanded at an average annual pace of 6.3% since 2000. The Kobeissi Letter said energy was the best-performing S&P 500 sector for 26 trading sessions in 2026. The Kobeissi Letter said technology ranked second with 24 such sessions. Communication services ranked third with 19 sessions. Healthcare and utilities each led the market for 15 sessions. The energy sector gained 42.8% year-to-date. Technology gained 26.1%. Communication services fell 3.9% over the same period.