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From Our Point of View

Markets in June 2023 Thumbnail

Markets in June 2023

In June, the S&P 500 surged 6.6%, reflecting broad market strength. The Fed signaled future rate hikes, and economic data remained resilient. Earnings for Q2 are projected to decline, but a rebound is expected in Q4. Job growth exceeded expectations, while wage growth fell short. Consumer spending drove a 2% rise in Q1 GDP.

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Markets in May 2023 Thumbnail

Markets in May 2023

While the consumer's strength has helped avert a recession, there are signs that it may be weakening, raising concerns among investors. Additionally, earnings for Q1 have declined for the second consecutive quarter, albeit at a lesser extent than initially projected. Analysts project further earnings declines in Q2 before a rebound in Q3 and Q4.

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Markets in March 2023 Thumbnail

Markets in March 2023

The Fed decided to raise rates by 0.25% to a range of 4.75% - 5%. Powell acknowledged the recent banking issues and that it may lead to tighter monetary policy. However, he reinforced that their priority is to bring inflation down and that all future moves will be data dependent. The Fed updated their projections showing they anticipate one more rate hike this year.

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