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.