Stocks remained volatile in light summer trading, as investors absorbed inflation data and the first major second-quarter corporate earnings reports. Technology stocks were among the best performers in the index, helped by solid gains in Apple.
Stocks erased much of the previous week’s losses on optimism that the Federal Reserve will be able to curb inflation without tipping the economy into a recession.
The major indexes surrendered a portion of the previous week’s strong gains, as worries grew that the Federal Reserve’s fight against inflation would push the economy into recession.
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ClearWater Market Commentary as of July 22nd, 2022
Stocks carried over momentum from late the previous week as investors appeared to welcome signs of a slowing economy and fading inflationary pressures.