Will June's End Provide Lift to Markets?

(6/29/22) Poorer than expected economic data triggered a market sell-off on Tuesday: The Richmond Fed Survey reported a big drop in all components, suggesting a recession is becoming a much higher probability. Similarly, the Philly Fed Manufacturing Index, the Dallas Fed indicators show pervasive economic slowing, thanks to tighter monetary policy, higher inflation, and higher interest rates. The Census Board's Consumer Confidence survey revealed big declines in street-level sentiment. Markets didn't like that, and fell to retest support at the previous lows of May. The hope now is that as June comes to an end, portfolio rebalancing and shuffling will provide a bit of a lift to markets.
Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO
Produced by Brent Clanton
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