![]() ![]() The markets finished the first half of 2023 near 14-month highs and performed far better than a year ago between January and June. There are solid reasons to hope that a 2022-type descent back into bear market depths is less likely. Perhaps you noticed some similarities with current conditions and recall last summer’s rally-which got underway in late June before peaking in August-turned into a head fake when Wall Street carved new lows in October. Sound familiar? That’s how things looked as July 2022 dawned. At the same time, the Federal Reserve still expects to raise rates again later this year to continue battling inflation, while worries about the Chinese economy and the Ukraine war remain top of mind. June jobs report among key economic data to watch as investors await the Fed meeting later in JulyĪlex Coffey, Senior Trading Strategist, TD AmeritradeĪfter a rough patch or two in the spring, stocks seem to be in better shape entering July amid hopes that the economy is starting to improve. Questions surround “depth” of spring rally, with some signs of broadening Q2 earnings season looms in July amid expectations for more year-over-year declines ![]()
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