The S&P 500, Dow Jones and Nasdaq hit new all-time highs on Monday but ultimately closed lower on the week. Energy was the worst-performing sector, down 2.61%. The entire energy complex collapsed this week, with commodity prices only stabilizing on Friday after Iran seized a British oil tanker. Consumer staples…
Hopes of a 50 bps rate cut were dashed Friday as the June payroll numbers showed continued job growth. The US economy added 224k nonfarm jobs in June. Prior to the release, the FedWatch tool was pricing in a 32% chance of a 50bps cut in July. After the payroll report, the…
We end the 1st half of the year with equities up double digits. Technology is up 26% with both Industrials and Consumer Discretionary up 21%. Healthcare is the relative laggard, trailing the market by 1000 bps. It should also be noted that equities had a great run in June. The S&P…
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