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As we wrote earlier this month, earnings have provided a strong foundation for stocks this year. With second quarter earnings growth for the S&P 500 on track to exceed 30% (excluding private investment mark-ups) and analysts continuing to raise estimates, it’s safe to say this season strengthened the fundamental case
Longer-term Treasury yields continued to climb this week, despite the Treasury Department’s announcement to increase longer-duration debt buybacks. Elevated interest rates continue to weigh on housing activity, with housing starts plummeting 12.4% m/m to 1.2 million units in July. Minutes from the July 28-29 FOMC meeting showed policymakers’ concerns about
July brought broad declines across stocks and bonds. Doug English, CFP®, shares ACT Advisors’ qualified outlook, a QQQ Technology Index update, and a secure tax-return upload reminder.