June 23rd, 2023 After posting five straight winning weeks, bulls opted to take some gains off the table in a holiday-shortened trading week. A light week in economic news left investors to focus on Federal Reserve Chairman Jerome Powell’s semi-annual testimony to Congress. Aside from fielding questions on the Fed’s fight against inflation, Powell was…
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June 9th, 2023 Stocks built on their rally this week, notching a new S&P 500 high for 2023 and topping 4,300 for the first time since August. The move higher came on a quiet week for economic news following last week’s debt ceiling standoff. Investors saw positives in a softer than expected ISM Services print,…
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June 2nd, 2023 Markets rallied this week as the President and Congress managed to strike a deal to raise the debt ceiling and as May nonfarm payrolls crushed analyst estimates. After weeks of political wrangling, Biden and McCarthy agreed on terms to lift the government’s $31.4 trillion debt ceiling, averting a government default. The agreement…
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