Good Morning, Insiders!
Your first Market Insights report for June is here! Today, I’ll cover some of latest market-moving news, like the May CPI report, June Fed meeting, and much more, so buckle up and let’s get ready to roll!
The S&P 500 has performed well since the Fed meeting earlier this week, and recent Jobs report has been positive. That May jobs report showed the US economy adding more jobs than economists’ had expected.
However, there are still lingering uncertainties that could derail the market’s record-breaking run. The market’s positive performance has been predominantly driven by a handful of very popular stocks, like Microsoft, Nvidia, etc., so the possibility of a correction is much higher that most bulls want to admit.
As we pass June’s halfway point, the most significant issue on investors’ minds is still interest rates. Over the past 12 months, the market has been, in my opinion, overly optimistic about the chances for deep rate cuts. However, I think there’s a good chance we’ll see at least one quarter-point cut before the end of the year.
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