After five consecutive months of gains on the S&P 500, what are the projections for the stock market?
Find out what the economy has been up to this week!
In this episode, Ryan Detrick and Sonu Varghese chat about the latest economic updates, including the recent GDP report, positive indicators in the economy, the impact of Federal Reserve rate hikes, inflation, and the stock market. They highlight the surprising strength of the economy, positive trends in consumer spending and decreasing inflation, and the potential for the stock market to continue rising.
Ryan and Sonu discuss:
- The recent GDP report, highlighting the better-than-expected growth of 2.4% in the second quarter
- How inflation has decreased and wage growth has come down
- The impressive GDP growth expected in the third quarter
- Positive earnings reports from companies
- The stock market projection for August
- The recent performance and potential upside of energy and industrial stocks
- The Federal Reserve's recent interest rate hike
- Predictions of no more rate hikes due to expected decrease in core inflation, vehicle prices, and housing rental inflation
- And more!
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