V2 Model July 30 2023 Update

Apple - Amazon - Jobs - will set the tone this week.

July 30, 2023

Recap

The stock market registered gains on this busy past week of earnings, economic, and central bank news. In aggregate, none of the events this week changed the market's view that has been driving recent gains. Participants continue to marvel at the resiliency of the US economy, expect that the Fed is close to being done raising rates, and hope that earnings growth will accelerate in the second half of the year.

The FOMC voted unanimously on Wednesday to raise the target range for the fed funds rate by 25 basis points to 5.25-5.50%, as expected.

V2 was up this week.

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