the forecast. The strong labor market opens the door for the Fed to continue its aggressive rate hikes to control inflation.
Markets had a fourth day of gains for July, starting off the month green as analysts continue to judge if and when a recession will hit. Wells Fargo says the recession is already here.
Investors’ reaction to the Fed’s meeting minutes from June resulted in a choppy indecisive day for the market. The US Dollar continued to climb against the Euro.
The Euro fell sharply and Oil plunged to nearly $100 a barrel on fears of recession. Growth stocks rose as investors price in a possible reaction from the Fed to soften the landing for the economy.
The first day of the second half of the year saw markets rise after dipping in the morning. However defensive stocks still lead with the Utilities sector on top. Treasury yields fell throughout the week, falling again on Friday.
Markets closed the worst first semester in over 50 years with another decline, falling on concerns over economic growth and corporate debt concerns.
GDP for Q1 was revised lower while investors are trying to calculate what possible moves the Fed will make to combat a recession.
Consumer Confidence data shocked investors as it hit a 16-month low and raised worries over slower economic growth.
After one of the best weekly gains of the year, the index kicked this week off with a pullback. Growth stocks led stocks lower, but small caps held onto gains for the day.
Big tech and growth stocks recovered some of the heavy losses from Thursday’s selling. The bounce comes at the end of one of the worst weeks in the market since the start of the pandemic.