Utility stocks have taken the lead in 2024 among US equity sectors following the market sell-off in recent days, based on a set of ETFs through Tuesday’s close (Aug. 6).
Daily Archives: August 7, 2024
Macro Briefing: 7 August 2024
* Consumer spending will be a key factor for gauging US recession risk
* Markets expect Fed to head off a recession with rate cuts
* US trade deficit narrowed in June as exports outpace imports
* Americans continue to rack up credit card debt, which rose to a new high in Q2
* Sahm Rule-creator doesn’t recommend emergency Fed rate cut
* US stock market (S&P 500) claws back some of the loss after 3-day sell-off: