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 Higher. U.S. equity indices were higher in June as conflict escalated and then de-escalated in the Middle East and congress tries to enact fiscal changes. The S&P 500 rose 5% and the Nasdaq 100 and the Magnificent 7 both rose over 6% as AI optimism continues to drive technology shares.
- Inflation and Interest Rates. The 10Y treasury yield fell in June to 4.2% as the U.S. Senate reviewed and debated the Big Beautiful Bill legislation passed by the House in May. The Fed kept interest rates unchanged and Core CPI inflation remained at 2.8%.
- Apple’s AI Woes. Apple announced in June that it is considering using externally-developed AI models like ones offered by Open AI and Anthropic to power a new version of Siri on its devices instead of an internal model in a major reversal of the company’s AI strategy.
- Big Beautiful Bill. The Senate reviewed the Big Beautiful Bill legislation that the House passed a version of in May. The bill extends the 2017 tax cuts and adds new tax exemptions while cutting Medicaid and other social spending and increasing spending for defense and border security.
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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.
