After stabilizing in late-June/early July, the US stock market has continued to rebound. The S&P 500 appears on track to post its fifth straight weekly advance, based on trading through yesterday’s close (Aug. 16). Encouraging, although all the risk factors that unleashed a powerful run of selling in the first half of the year are still lurking. That includes high inflation, rising interest rates and elevated geopolitical tension vis-à-vis Russia and China. But for the moment, the trend if friendly, leaving the crowd to decide if this is a bear market rally or the start of a new extended bull run.
Daily Archives: August 17, 2022
Macro Briefing: 17 August 2022
* Biden signs climate and health care bill into law
* Ukraine widens attacks on Russian-controlled territory in Crimea
* America’s retirement crisis is getting worse
* China’s stimulus efforts to boost slowing economy are relatively mild
* UK inflation reaches another new 40-year high in July
* US industrial production rebounds more than expected in July
* Heatwave in China is forcing factories to close
* Q3 GDP rebound for US revised down to +1.8% via GDPNow model
* US housing starts continue to weaken, falling to slowest pace since early 2021:
