A Snapshot of the Market for the Week Ended July 16, 2021:
The S&P 500 hit an all-time high on Monday but ended the week with a loss of 43 points or 1.0 %, even though earnings have topped estimates and key economic prints like retail sales, industrial production, job claims and mortgage applications have beaten consensus. Citibank’s macro surprise index rose considerably, and the Atlanta Fed NowCasting model is estimating a 7.5% annualized GDP growth for Q2.
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By Hubert Marleau
By Hubert Marleau