FactSet Weekly Market Recap - Friday, 16-July
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Description
US equities mostly lower in Friday afternoon trading, and are on track to close modestly lower on the week. There has been a focus on how much of the current inflationary impulse will be temporary and how long that transitory period may be. The debate continues after latest CPI and PPI reports showed hotter-than-expected headline and core price growth. Fed Chair Powell fielded many questions about inflation during his congressional testimony this week but stuck closely to his contention that pressures will abate when supply chain bottlenecks unwind. Q2 earnings season continues next week with SandP 500 earnings expected to increase 64% y/y.
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