Two weeks ago I wrote: “US stocks look overbought,” based on a variety of metrics. Fast forward to yesterday’s close for the S&P 500 Index and equities are well below their recent peak. Dumb luck? Maybe, but the better question is whether the latest decline is the start of an extended slide or just a garden variety correction? Alas, no one knows the answer. Indeed, no one ever does. But we can review the basics for developing calculated-risk estimates.
Daily Archives: July 25, 2024
Macro Briefing: 25 July 2024
* Is the potential unwinding of Biden’s economic policies an investment risk?
* China cuts interest rates for a second time this week
* John Deere says it’s laying off workers due to agriculture downturn
* New US home sales fell to 7-month low in June
* US business activity growth accelerates in July, driven by services:
