It’s time to review last month’s key events and look ahead to what’s coming in the market and economic landscape. Download the latest edition of the Month-in-Review, developed by the Prime Capital Financial Team!
Quick Takes
- Stocks Rise. U.S. stock indices were higher in July as agreements on trade, positive economic data and strong earnings boosted shares. The S&P 500 rose by 2.4% while the Nasdaq 100 rose 3.3% and the Magnificent 7 rose nearly 8%. The Dow Jones Industrial Average fell 0.7% in July.
- Inflation and Interest Rates. The 10Y treasury yield rose in July to 4.4% as President Trump signed his Megabill into law on July 4. The bill extends the 2017 tax cuts, introduces deductions for tips and overtime, cuts Medicaid, and boosts spending on the military and immigration enforcement.
- Meme Stocks Rally. July was a month of meme stock euphoria as retail traders increased bets on speculative stocks like Kohl’s Corp. and Krispy Kreme Inc. These bets are often made because social media personalities promote the stocks. Here is our video on the topic.
- Texas Flooding. The Guadalupe River flooded in Kurr County, Texas as torrential rains caused the level of the river to rise sharply. Parts of the Hill Country, a rural area of about 20 counties west of Austin, were devastated with hundreds of residents killed or missing.
Download The Full Review
For a year end review, give us a call today!
This article is not to be construed as financial advice. It is provided for informational purposes only and it should not be relied upon. It is recommended that you check with your financial advisor, tax professional and legal professionals when making any investment or any change to your retirement plan. Your investments, insurance and savings vehicles should match your risk tolerance and be suitable as well as what’s best for your personal financial situation.
