The Wednesday Roundup: July 3, 2024
Inflation Data and Presidential Debate: The release of additional inflation data and the first presidential debate were the primary events in an otherwise quiet week. Strong Start for Stocks: The S&P 500 has surged more than 15% in the first half of 2024, marking a robust start to the year.
The biggest movers over the last week on price and volume (Mid Cap S&P 400 and Small Cap S&P 600)
Price and volume moves last week for every stock and sector (Mid Cap S&P 400 and Small Cap S&P 600)
Last week vs. history (Mid Cap S&P 400 and Small Cap S&P 600)
AI Oracle Commentary (Alpha testing)
Key News Highlights:
- Inflation Data and Presidential Debate: The release of additional inflation data and the first presidential debate were the primary events in an otherwise quiet week.
- Strong Start for Stocks: The S&P 500 has surged more than 15% in the first half of 2024, marking a robust start to the year.
- Low Market Volatility: The VIX index indicates that market volatility has been at its lowest in seven years, reflecting a calm market environment.
Historical Comparison:
Comparing these current market headlines to the early 1990s, particularly 1991, provides an interesting perspective. In 1991, the U.S. was emerging from a recession, and the market was buoyed by the end of the Gulf War and a series of interest rate cuts by the Federal Reserve. Similar to today, there was a sense of optimism and a strong market performance, though the economic backdrop was different. The S&P 500 saw significant gains in the first half of 1991, much like the strong start we are witnessing in 2024. However, unlike the low volatility in 2024, 1991 experienced higher market volatility due to geopolitical uncertainties and economic recovery dynamics.
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