Outlook

Yesterday it was the Harris Trade but today it’s the Trump trade as stocks attempt to bounce back from last week’s selloff by using any lever they can pull. But from a probability perspective, election odds haven’t changed much, with Trump still expected to handily become 47

In June, the American Society of Clinical Oncology (ASCO) hosted its 60th Annual Meeting, drawing over 40,000 attendees from around the globe. This year’s event largely focused on validating revolutionary treatment categories like Chimeric antigen receptor (CAR) T-cell therapies and antibody drug conjugates (ADCs). Given proven clinical benefits across a wider array of cancer types, we expect these novel treatment categories to become increasingly important in the fight against cancer and the growth profiles of select companies in the healthcare space.

The Producer Price Index, which measures the change in wholesale prices, rose 2.6 percent in June year over year—its largest increase in 16 months. By contrast, the Consumer Price Index, which tracks consumer prices, showed that the pace of inflation slowed in June. Markets shrugged off the conflicting data, instead embracing the cooler CPI data.

Utilities, aerospace and defense, and oil & gas exploration are sector opportunities with great growth potential

The UST yield curve has been inverted, but there is speculation about when it will “un” invert and move out of negative territory. The potential for Fed rate cuts could impact the timing of the yield curve moving out of negative territory, with the UST 2-Year/10-Year spread potentially being the first to do so.

Stocks finished the last week of June and Q2 mixed as investors digested a fresh round of economic data

News of slower job growth, slowing wage growth, and a slight uptick in unemployment helped drive down Treasury yields, and stocks finished the short week with a strong rally

We discuss various parts of the consumer reaction function that help explain the divergence between consumer sentiment and some important pieces of macro data. We also give thoughts on what this disconnect may mean for consumer and voter behavior.

No matter how clearly Chairman Powell signals the Federal Reserve’s (Fed) plans to bring inflation back to target, investors continue to obsess about how soon and how many times the Fed will cut rates this year. In fact, investors have been so preoccupied with Fed policy that they missed the economy sticking the soft landing

The U.S. economy has not entered a recession despite the inverted yield curve, which historically predicted recessions, and this may be due to the relatively solid labor market setting

Stocks edged higher over the four trading days last week, with the three major averages taking turns leading based on various economic and artificial intelligence (AI) news

The inflation story is progressing roughly as anticipated, with the caveat that the disinflation process had paused in the US earlier this year.