U.S. stocks advanced strongly as the S&P 500 index logged a fourth week of gains. Market sentiment got a lift from upbeat earnings reports and a downside inflation surprise.
Weekly Global Perspectives
Global stock markets saw mixed results, as investors weighed better than expected U.S. job growth and mixed PMI data against prospects for higher interest rates.
U.S. stocks advanced for the week, ending July with the strongest monthly gain since November 2020. Markets rose on upbeat earnings and economic contraction, which investors believed might slow the pace of interest rate hikes.
U.S. stock markets posted gains over a holiday-shortened week. Upside surprises in job growth and ISM services helped counter recession fears while raising the likelihood of another 75 basis point (bp) interest rate hike in July.
U.S. stocks fell for the week despite a July 1 rally. June ended with global markets in the red for the month, quarter and year to date.
U.S. stocks posted their first weekly gain in June. Prospects for aggressive rate hikes were tempered by slowing economic data.
U.S. stock markets retreated for the week and the S&P 500 index slipped into bear market territory. The FOMC raised interest rates 75 basis points (bp), raising fears that a policy mistake could push the economy into recession.
U.S. stock market indexes lost ground for the week and volatility spiked. Investors’ hopes for easing inflation were dashed by a surprise CPI jump, rising borrowing costs and new Covid restrictions in Shanghai.