This year’s rally in US stocks continues to rely heavily on a handful of red-hot sectors, based on a review of ETFs through yesterday’s close (July 26). Shares in technology, communications and consumer discretionary are well ahead of the broad market, providing strong upside support.
Daily Archives: July 27, 2023
Macro Briefing: 27 July 2023
* Federal Reserve raises target interest rate 1/4 point to 22-year high
* Fed’s staff is no longer forecasting US recession, says Powell
* New US home sales fell in June following surge in May
* Regional banks show signs of recovery in Q2 earnings
* Investors avoid US consumer firms especially vulnerable to economic downturn
* Global oil demand on track to reach record high
* Is the Fed done with rate hikes? If so, it may be time to buy bonds:
