Market conditions

On August 1, 2022, U.S. stocks edged lower as July’s powerful rebound cooled: the S&P 500 slipped 0.28% to 4,118.59, the Dow fell 0.14% to 32,798.60, and the Nasdaq dipped 0.18%. Energy shares dragged as oil prices weakened, while Boeing jumped after regulators cleared a path to resume 787 Dreamliner deliveries. Key data painted a mixed growth picture: the ISM manufacturing PMI for July registered 52.8—its slowest expansion since mid‑2020—with signs of easing price pressures, and June construction spending declined 1.1% month over month. Treasury markets reflected growth caution, with the 10‑year yield near 2.59% by late afternoon. Geopolitical risk simmered as the White House signaled potential Chinese “provocations” if House Speaker Nancy Pelosi proceeded with a Taiwan stop, an overhang for risk appetite. (investing.com)

On Friday, July 29, 2022, U.S. stocks rallied and capped the S&P 500’s best month since November 2020, buoyed by better‑than‑expected Big Tech results and easing long‑term yields despite still‑hot inflation and mounting recession concerns. The S&P 500 rose about 1.4%, the Nasdaq nearly 1.9%, and the Dow roughly 315 points as investors reacted to upbeat earnings from Apple and Amazon, while Exxon Mobil and Chevron posted record quarterly profits. Fresh data that morning showed the Fed’s preferred inflation gauge, the PCE price index, running at 6.8% year over year in June with core at 4.8%, and the Q2 Employment Cost Index up 1.3% quarter over quarter; Treasury yields slipped with the 10‑year near 2.66% and the 2s/10s spread still inverted, underscoring growth jitters. The rally followed the Federal Reserve’s second straight 75‑basis‑point hike on July 27 to a 2.25% to 2.50% target range and came a day after an advance GDP estimate showed a 0.9% annualized contraction in Q2, keeping debate about recession front and center.

On July 28, 2022, the U.S. economy flashed a growth slowdown as the advance estimate showed real GDP contracting at a 0.9% annualized rate in Q2, the second straight quarterly decline, while markets digested the Federal Reserve’s 75-basis-point hike the prior day that lifted the policy rate to 2.25%–2.50%. Equities rallied despite the weak GDP print on hopes tighter policy might slow sooner, with the S&P 500 up 1.21% to 4,072.43 and the Nasdaq Composite up 1.08% to 12,162.59; initial jobless claims ticked to 256,000 for the week ended July 23, hinting at some cooling in the labor market. The House also passed the CHIPS and Science Act, a headline development for domestic semiconductor production. After the closing bell, upbeat results and outlooks from Apple and Amazon lifted after-hours sentiment, with Amazon shares jumping in extended trading. (bea.gov)

On Wednesday, July 27, 2022, U.S. stocks rallied after the Federal Reserve lifted the policy rate by 0.75 percentage point to a 2.25%–2.50% target range and Chair Jerome Powell emphasized a meeting‑by‑meeting approach, which investors read as slightly less hawkish. (axios.com) At the close, the S&P 500 rose about 2.6% to roughly 4,023 and the Nasdaq Composite gained about 4.1% to around 12,032, while the Dow added roughly 1.4%. (cnbc.com) Treasury yields eased and the 2s‑10s curve remained inverted, underscoring growth concerns. (tradingview.com) Incoming data were mixed: June durable goods orders surprised to the upside (+1.9% m/m), while June pending home sales fell 8.6% m/m, signaling ongoing housing weakness. (census.gov) Policy headlines also mattered: the Senate passed the CHIPS and Science Act, a $280 billion package with $52 billion in semiconductor incentives, which supported sentiment in chip‑related names. (axios.com)

On Tuesday, July 26, 2022, U.S. stocks fell as a profit warning from Walmart intensified recession fears and undercut a recent rally; the S&P 500, Dow, and Nasdaq closed lower ahead of the Federal Reserve’s July 27 rate decision, and after-hours moves were mixed as Alphabet and Microsoft reported results. Sentiment was further pressured by macro data: the Conference Board’s Consumer Confidence Index slipped again in July to 95.7 and June new-home sales fell 8.1% to a 590,000 annual pace, signaling cooling demand amid high inflation and rising rates. Globally, the IMF’s July update cut growth forecasts and warned of a “gloomy and more uncertain” outlook, adding to risk aversion. Overall, the day reflected risk-off positioning led by retail and growth shares. (m.investing.com)

On Monday, July 25, 2022, U.S. markets were mostly flat-to-mixed as investors positioned ahead of the Federal Reserve’s July 27 policy decision amid stubbornly high inflation and softening growth signals: the Dow closed at 31,990.04 (+0.28%), the S&P 500 at 3,966.84 (+0.13%), and the Nasdaq Composite at 11,782.67 (-0.43%). (statmuse.com) Treasury conditions and commodities reflected the same caution, with the 10‑year U.S. yield near 2.81%, the dollar index around 106, and Brent crude near $104 per barrel. (imfconnect.org) The macro backdrop remained dominated by June CPI running at 9.1% year over year and by a contractionary July flash PMI reading (U.S. composite 47.5), both of which kept recession worries in focus. (cnbc.com) After the closing bell, Walmart warned of lower profits as food inflation forced shoppers to shift away from discretionary goods, a headline that hit retail shares in after‑hours trading and set a weak tone for the next session. (cnbc.com)

On Friday, July 22, 2022, U.S. stocks fell as recession worries resurfaced: the Dow closed down 0.43% at 31,899, the S&P 500 lost 0.93% to 3,962, and the Nasdaq dropped 1.87% to 11,834, though all three still logged gains for the week. Weakening macro data added to the risk-off tone, with S&P Global’s flash U.S. Composite PMI sliding into contraction at 47.5, its first sub-50 reading since 2020. Earnings and corporate news weighed on sentiment: Snap’s disappointing results sparked a broad selloff in social-media and ad-tech shares, Twitter missed revenue amid ad softness, Verizon cut its profit outlook and fell, while American Express raised its revenue guidance on robust travel and entertainment spending. Treasury markets flashed growth concerns as the 10-year yield retreated toward an eight-week low and the 2s/10s curve sat inverted by roughly 22 basis points. Globally, Russia and Ukraine signed a UN- and Turkey-brokered agreement to reopen Black Sea ports for grain exports, easing some food-supply pressures that had been feeding inflation expectations. (investing.com)

On Thursday, July 21, 2022, U.S. stocks finished higher, with a late‑day rally led by big‑cap tech after Tesla’s better‑than‑expected results, while telecom and energy shares lagged as AT&T tumbled on a cut to full‑year free‑cash‑flow guidance and crude prices slid toward the mid‑$90s. (investing.com) Macro signals were mixed: initial jobless claims rose to 251,000, the highest since mid‑November; the Philadelphia Fed’s July manufacturing index dropped to −12.3; and the Conference Board’s U.S. Leading Economic Index fell 0.8% in June, reinforcing slowdown risks. (cnbc.com) Overseas, the European Central Bank delivered a larger‑than‑expected 50‑basis‑point rate hike—its first since 2011—and Russia’s Nord Stream 1 pipeline resumed gas flows at roughly 40% capacity after maintenance, tempering immediate energy‑supply fears but keeping uncertainty elevated. (cnbc.com) President Joe Biden’s positive COVID‑19 test briefly grabbed headlines but had limited market impact by the close. (cnbc.com)

On Wednesday, July 20, 2022, U.S. stocks extended July’s rebound as technology shares led on earnings optimism: the Nasdaq Composite rose 1.58% to 11,897.65, the S&P 500 added 0.59% to 3,959.90, and the Dow Jones inched up 0.15% to 31,874.84; Netflix’s better‑than‑feared update buoyed risk appetite, while a pullback in the dollar and oil’s dip below $100 per barrel (WTI around $98.75) coincided with easing prices at the pump. (cnbc.com) Macro signals were mixed: inflation ran at 9.1% year over year in June and markets widely expected a 75 bp Federal Reserve hike on July 27; housing cooled as existing‑home sales fell for a fifth straight month to a 5.12 million SAAR with a record $416,000 median price; mortgage applications slid to roughly two‑decade lows; and European energy risk loomed as the EU proposed a 15% gas‑use cut while markets awaited confirmation that Nord Stream 1 would restart the next day. (cnbc.com)

On Tuesday, July 19, 2022, U.S. stocks staged a broad risk-on rally as stronger‑than‑feared second‑quarter earnings helped markets look past soft housing data and persistent inflation concerns: the Dow rose 2.43% to 31,827, the S&P 500 gained 2.76% to 3,936.69 (its highest close since June 9), and the Nasdaq advanced 3.11% to 11,713. Optimism was bolstered by beats from companies like Halliburton and Hasbro, fading odds of a 100‑bp July Fed hike as futures coalesced around 75 bps, and a retreat in the U.S. dollar, while June housing starts fell 2.0% to a 1.559 million annual rate. Europe’s energy risk remained a backdrop but eased slightly after reports that Nord Stream 1 gas flows were likely to resume on July 21 at reduced capacity; after the bell, Netflix said it lost 970,000 subscribers versus a forecast 2 million, further lifting risk appetite for growth shares in after‑hours trade. (ktvz.com)

On July 18, 2022, U.S. stocks opened higher on upbeat bank earnings and an aviation tailwind but reversed to finish lower after a Bloomberg report that Apple would slow hiring and spending, stoking recession anxiety in a market already digesting June CPI at 9.1% year over year. The Dow fell 216.5 points to 31,071.75 (-0.69%), the S&P 500 slid 0.84% to 3,830.82, and the Nasdaq lost 0.81% to 11,360.05. Earlier enthusiasm came from Goldman Sachs’ better‑than‑expected results (trading strength offsetting weak dealmaking) and Bank of America’s higher net interest income despite a profit decline, plus Delta’s order for 100 Boeing 737 MAX 10s at the Farnborough Airshow. Macro signals stayed mixed: homebuilder sentiment (NAHB/Wells Fargo HMI) plunged 12 points to 55, oil rebounded above $102 a barrel, the 10‑year Treasury yield hovered near 2.96% with an inverted 2s/10s curve, and IBM trimmed its 2022 cash-flow outlook after the close—all as markets priced a 75 bp Fed hike the following week.

On Friday, July 15, 2022, U.S. stocks rallied as investors digested fresh data and earnings: the Dow Jones Industrial Average jumped about 2.15% to roughly 31,288, the S&P 500 rose about 1.9%, and the Nasdaq Composite gained about 1.8%. A stronger‑than‑expected June retail sales report (+1.0% month over month, +8.4% year over year, with May revised to ‑0.1%) and a slight uptick in the University of Michigan’s preliminary July consumer sentiment (51.1) helped sentiment, especially as inflation expectations eased (one‑year near 5.2% and five‑to‑ten‑year near 2.8%). Bank earnings set the tone: Citigroup’s better‑than‑expected results sparked a sharp rally in financials, while UnitedHealth’s beat and guidance lift buoyed the Dow. At the same time, June industrial production slipped (‑0.2%), and the Treasury yield curve stayed inverted with the 2‑year near 3.12% and the 10‑year near 2.93%, underscoring recession risks even as some bets on a 100‑basis‑point July Fed hike faded in favor of 75 bps after officials’ comments. Oil settled around $98 WTI as President Biden’s same‑day visit to Saudi Arabia kept energy supply in focus, and Chinese data showing weak second‑quarter growth added a global backdrop of slowing activity.

On Thursday, July 14, 2022, U.S. stocks were choppy and finished mixed: the Dow fell 0.46% to 30,630, the S&P 500 slipped 0.30% to 3,790, while the Nasdaq inched up 0.03%, as investors digested hot inflation and weak big‑bank results. June producer prices rose 1.1% month over month and 11.3% year over year, a day after headline CPI hit 9.1%, reinforcing expectations for another large Fed hike, while weekly initial jobless claims ticked up to 244,000, hinting at some softening in the labor market. JPMorgan’s profit fell and it suspended share buybacks, and Morgan Stanley also missed as dealmaking slumped, weighing on financials early; later, comments from Fed Governor Waller and St. Louis Fed President Bullard favoring a 75‑bp move (over 100 bps) helped temper fears and lift tech; oil settled near $96 on recession worries, underscoring growth concerns. (investing.com)

On Wednesday, July 13, 2022, the U.S. economy’s defining data point was the June Consumer Price Index, which rose 9.1% year over year and 1.3% month over month, with core inflation at 5.9%, intensifying pressure on the Federal Reserve to keep hiking aggressively. (bls.gov) Futures markets quickly priced the risk of a supersized move, with talk shifting from a near-certain 75-basis-point increase toward odds of a full percentage-point hike later in July, while the 2‑year/10‑year Treasury curve inverted to its deepest level since 2000, underscoring recession fears. (cnbc.com) Stocks finished a choppy session modestly lower as investors digested the hot CPI print and its policy implications, with the S&P 500 down about 0.5% and the Nasdaq off roughly 0.2% at the close. (wptv.com) The day’s cross‑currents also included the euro briefly dipping below parity with the dollar and then rebounding, a sign of broad dollar strength that tightens global financial conditions, the Bank of Canada’s surprise 100‑basis‑point hike that reinforced a worldwide tightening trend, and Delta Air Lines’ earnings miss that pushed its shares down more than 4% and highlighted cost pressures in travel. (cnbc.com)

On July 12, 2022, U.S. stocks fell as investors braced for the June CPI report due the next day and recession worries mounted; the Dow closed near 30,981 (-0.6%), the S&P 500 at 3,818 (-0.9%), and the Nasdaq at 11,265 (-1.0%). Sentiment was pressured by a deepening 2-year/10-year Treasury yield-curve inversion, a surging dollar that drove the euro to parity for the first time in two decades, and crude oil sliding toward the mid-$90s, which dragged energy shares lower. Corporate headlines also shaped trading: PepsiCo kicked off earnings with price hikes alongside a beat, Boeing rallied on its strongest monthly jet deliveries since 2019, several software names slid after cautious macro and currency commentary, and Twitter sued Elon Musk to force completion of the $44 billion takeover agreement, adding headline risk to social media and deal-making. Overall, the day reflected high inflation, tighter Fed policy expectations, slowing global growth signals, and strong-dollar crosswinds converging to keep risk appetite muted.

On Monday, July 11, 2022, U.S. stocks fell as investors braced for a hot June CPI report due July 13 and the start of second‑quarter bank earnings later in the week; the S&P 500 lost about 1.2% to roughly 3,854 while the Nasdaq slid around 2.3% and the Dow eased about 0.5%. (morganstanley.com) The Treasury yield curve remained inverted, with the 2‑year yield above the 10‑year, underscoring rising recession fears as markets priced aggressive Fed tightening. (thestreet.com) At the same time, the New York Fed’s Survey of Consumer Expectations showed one‑year inflation expectations rising to a series high of 6.8%, reinforcing the inflation narrative weighing on risk assets. (cnbc.com) Globally, the dollar stayed firm while Europe’s energy anxiety intensified as Russia’s Nord Stream 1 pipeline began a scheduled 10‑day shutdown for maintenance—both factors that added to risk aversion and growth worries. (imfconnect.org)

On Friday, July 8, 2022, U.S. stocks ended the session mixed after whipsaw trading around a stronger-than-expected June jobs report: the S&P 500 slipped 0.1% to 3,899.38, the Dow edged down 46 points to 31,388.15, while the Nasdaq rose 0.1% to 11,635.31; for the week, the S&P 500 gained 1.9%, the Nasdaq 4.6%, and the Dow 0.8%. The labor market added 372,000 nonfarm jobs in June and the unemployment rate held at 3.6%, with average hourly earnings up 0.3% month over month (5.1% year over year), reinforcing expectations for continued Fed tightening. Markets also digested a still‑inverted yield curve and firmer dollar and oil levels into the close (10‑year Treasury near 3.10%, DXY around 106.9, WTI roughly $105). Sentiment was tested by the assassination of former Japanese prime minister Shinzo Abe earlier in the global trading day, while after the U.S. close Elon Musk moved to terminate his $44 billion Twitter deal, a headline likely to sway tech and event‑driven positioning in subsequent sessions. Separately, the Atlanta Fed’s GDPNow tracker on July 7 estimated Q2 real GDP at −1.9% annualized, underscoring ongoing recession debate. (seattletimes.com)

On July 7, 2022, U.S. stocks rallied for a fourth straight session as investors weighed cooling growth signals against resilient demand: the Dow Jones Industrial Average rose 1.12% to 31,384.55, the S&P 500 gained 1.50% to 3,902.62, and the Nasdaq Composite added 2.28% to 11,621.35, with energy shares leading after oil recovered part of its early‑week slide; meanwhile, initial jobless claims edged up to 235,000 for the week ended July 2 and planned layoffs jumped even as the U.S. trade deficit narrowed in May to $85.5 billion, the lowest of 2022. The prior day’s Fed minutes reinforced the likelihood of another 50–75 bp hike in July and the 2s/10s yield curve briefly inverted again, while globally the euro hovered near parity with the dollar and the resignation of U.K. Prime Minister Boris Johnson added political uncertainty; nevertheless, U.S. risk assets advanced. (investing.com)

On July 6, 2022, U.S. stocks closed modestly higher (Dow 31,067.68; S&P 500 3,845.08; Nasdaq 11,361.85) while the 10-year Treasury yield rose to about 2.93% and the 2s/10s curve inverted, reflecting persistent recession worries. (birlingcapital.com) Investors digested June FOMC minutes that emphasized moving to a more restrictive stance to tame inflation and kept 50–75 basis-point hikes on the table for the July meeting, even at the risk of weaker growth. (axios.com) Economic data showed the services sector still expanding in June (ISM Services PMI 55.3), while May job openings eased to roughly 11.25 million but remained historically elevated. (prnewswire.com) Oil extended its slide on recession fears, with WTI settling near $98.5 and Brent around $100.7, and the dollar hovered near two-decade highs around 107 on the DXY. (spglobal.com)

On July 1, 2022, U.S. stocks began the second half with a late-day rally: the Dow rose about 1%, the S&P 500 gained roughly 1%, and the Nasdaq advanced near 0.9% as all 11 S&P sectors finished higher; oil hovered near $108 a barrel and the 10-year Treasury yield around 2.90%. (foxbusiness.com) This rebound followed the S&P 500’s worst first half since 1970 and arrived alongside softer macro readings: the June ISM Manufacturing PMI fell to 53.0 (a two-year low) with the new-orders index slipping into contraction, while the Atlanta Fed’s GDPNow model pegged Q2 real GDP at about −2.1% annualized, stoking recession chatter. (thestreet.com) Company-specific headlines included Kohl’s terminating sale talks and trimming guidance, GM cautioning on profits, and Micron sliding on weak forward guidance; investors were also digesting the Supreme Court’s June 30 West Virginia v. EPA decision limiting the EPA’s authority over power-plant carbon rules. (foxbusiness.com)

On June 30, 2022, U.S. stocks fell and the S&P 500 closed at 3,785.38 (-0.9%) to wrap up its worst first half since 1970 as investors weighed persistent inflation, slowing real consumer demand, and rising recession risk under aggressive Federal Reserve tightening. Fresh data that morning showed the Fed’s preferred inflation gauge (PCE) running 6.3% year over year in May (core 4.7%) while real consumer spending declined 0.4%, and weekly initial jobless claims registered 231,000 for the period ended June 25—signals of a still-tight but cooling labor market. The day’s news also included a Supreme Court ruling in West Virginia v. EPA that limited the agency’s ability to mandate broad power-sector emissions shifts and an OPEC+ meeting that reaffirmed plans to lift output by 648,000 barrels per day in August, shaping the backdrop for energy and utility shares. (straitstimes.com)

On June 29, 2022, U.S. stocks ended mixed to slightly lower as investors weighed stubborn inflation, rising recession risks, and geopolitics. The S&P 500 slipped 0.1% to 3,818.83, the Dow rose 0.3% to 31,029.31, the Nasdaq was essentially flat at 11,177.89, and small caps lagged. Fresh data showed first‑quarter real GDP was revised down to a –1.6% annualized pace, reinforcing concern after the Conference Board’s consumer confidence index fell to 98.7 the prior day. At the ECB’s Sintra forum, Fed Chair Jerome Powell reiterated the commitment to bring down inflation—acknowledging the challenge of achieving a soft landing—while the 10‑year Treasury yield hovered near 3.2%. Energy remained a key pressure point, with Brent crude around $118 and WTI near $111 per barrel. Abroad, NATO leaders in Madrid formally invited Finland and Sweden to join and the U.S. announced additional troop deployments in Europe, adding a defense‑spending tailwind to a market otherwise focused on growth headwinds.

On June 28, 2022, U.S. stocks fell sharply as recession fears built: the Dow Jones Industrial Average dropped 1.6% to 30,946.99, the S&P 500 fell 2.0% to 3,821.55, and the Nasdaq Composite slid 3.0% to 11,181.54. Sentiment weakened after the Conference Board’s Consumer Confidence Index slipped to 98.7 for June, while housing looked historically hot but showed early cooling signs as April’s S&P CoreLogic Case‑Shiller data indicated a deceleration in price gains. The 10‑year Treasury yield hovered near 3.18% as investors weighed slowing‑growth signals and tighter Fed policy. Energy remained pivotal with crude elevated (roughly Brent $116/WTI $111) as G7 leaders explored a price cap on Russian oil; geopolitical risk also featured as Turkey agreed to back Sweden and Finland’s NATO bids, following reports a day earlier that Russia had slipped into foreign‑debt default. (yahoo.com)

On Monday, June 27, 2022, U.S. stocks slipped as megacap growth names dragged the tape, with the Dow down 0.2% to 31,438, the S&P 500 off 0.3% to 3,900, and the Nasdaq lower by 0.8% to 11,515, while energy shares outperformed as crude edged higher. (shorenewsnetwork.com) Headlines included Russia’s first foreign sovereign default since 1918 and G7 deliberations on capping Russian oil prices, developments that kept commodity markets squarely in focus. (washingtonpost.com) U.S. data were mixed: May durable goods orders rose 0.7% and pending home sales unexpectedly ticked up 0.7%, even as consumer sentiment sat at a record low in June amid a recent 40‑year‑high pace of inflation. (census.gov) Treasury yields and crude were firmer, and investors were approaching the end of a historically weak first half for equities, keeping recession risks, inflation, and Fed tightening at the center of market narratives. (thestreet.com)

On June 24, 2022, U.S. stocks staged a broad rally as easing inflation-expectations data helped stabilize rate fears: the S&P 500 rose about 3.1%, the Dow 2.7%, and the Nasdaq 3.3%, capping a rare winning week in a difficult June bear-market stretch; over the four-day span the S&P 500 gained roughly 6.5%. (stifel.com) The final June University of Michigan survey showed overall consumer sentiment at a record low of 50.0, but the closely watched five‑year inflation expectation eased to about 3.1% from 3.3%, a combination that buoyed risk appetite and coincided with a pullback in shorter‑term Treasury yields. (washingtonpost.com) Fresh housing data added nuance: new single‑family home sales for May, released that morning, unexpectedly rose 10.7% to a 696,000 seasonally adjusted annual rate despite higher mortgage costs. (census.gov) Away from markets, the Supreme Court overturned Roe v. Wade in the Dobbs decision, a major legal shift that dominated the news cycle even as broad equity indexes finished higher on the day. (amp.cnn.com)

On Thursday, June 23, 2022, U.S. stocks advanced as investors weighed signs of slowing—but still expanding—activity and lower market rates: the S&P 500 rose to 3,795.73 (+1.0%), the Dow to 30,677.36 (+0.6%), and the Nasdaq to 11,232.19 (+1.6%), while Treasury yields eased to two‑week lows and crude fell on recession worries; Fed Chair Jerome Powell, in day two of congressional testimony, reiterated the Fed’s resolve to curb inflation and acknowledged recession was a possibility. Fresh data showed weekly jobless claims at 229,000 and S&P Global’s flash U.S. composite PMI dipping to 51.2, its weakest since January, as oil settled near $110 Brent and $104 WTI amid demand concerns. Policy headlines added market cross‑currents: the Supreme Court struck down New York’s concealed‑carry law in a major Second Amendment ruling, and the Senate passed the Bipartisan Safer Communities Act later that evening. (ufdcimages.uflib.ufl.edu)

On Wednesday, June 22, 2022, U.S. stocks seesawed and finished slightly lower after Fed Chair Jerome Powell, in Senate testimony, reiterated the Fed’s resolve to curb inflation and said a recession was “certainly a possibility”; the Dow fell 0.15% to 30,483, the S&P 500 slipped 0.13% to 3,759.89, and the Nasdaq lost 0.15% to 11,053.08. (axios.com) Energy shares led the decline as crude prices fell, weighing on the broader market. (cbsnews.com) President Biden also called on Congress to enact a three‑month federal gas‑tax holiday, underscoring policy efforts to address fuel costs. (cnbc.com) The backdrop remained challenging: May CPI was up 8.6% year over year, and the Fed had just delivered a 75‑basis‑point hike on June 15, amplifying growth and recession worries. (bls.gov)

On Tuesday, June 21, 2022, U.S. stocks rebounded from the prior week’s selloff, with the S&P 500 up about 2.45%, the Dow Jones Industrial Average up 2.15%, and the Nasdaq Composite up 2.51%, while the 10‑year Treasury yield hovered near 3.30%, reflecting ongoing rate and recession jitters. (stifel.com) Inflation remained a key overhang after May CPI rose 8.6% year over year, a 40‑year high. (bls.gov) Fresh housing data added to the cooling‑growth narrative as existing‑home sales for May fell 3.4% to a 5.41 million annual pace. (cnbc.com) Energy prices stayed elevated, with WTI crude around $110 a barrel, and Washington’s debate over a potential federal gas‑tax holiday was in focus. (cnbc.com) Corporate headlines also shaped sentiment, led by Kellogg’s plan to split into three companies, while crypto steadied with bitcoin near $20,700; investors were also bracing for Fed Chair Jerome Powell’s semiannual testimony to Congress beginning June 22. (cnbc.com)

On June 17, 2022, U.S. stocks finished a volatile week with a mixed close as quarterly options and futures expirations (“quadruple witching”) amplified trading and investors digested the Federal Reserve’s 75-basis-point hike two days earlier. (bloomberg.com) The S&P 500 edged up about 0.2% to 3,674.84 and the Nasdaq rose roughly 1.4%, while the Dow slipped slightly, reflecting a tentative stabilizing after steep losses. (news4jax.com) Even so, the major indexes capped their worst week since March 2020 and the S&P 500 ended the week at its lowest level since December 2020 as recession fears intensified. (latimes.com) Economic signals on the day were soft: the Conference Board’s Leading Economic Index fell 0.4% in May and mortgage rates surged to 5.78%, the highest since 2008, underscoring tightening financial conditions. (prnewswire.com) Benchmark Treasury yields eased into the close (10‑year near 3.23%) after midweek decade highs, while oil pulled back to about $110 and the dollar stayed firm, highlighting a flight-to-quality tone. (wellergroupllc.com) Abroad, the Bank of Japan stuck with ultra‑easy policy, pressuring the yen and adding to global cross-currents; President Biden said a U.S. recession was “not inevitable”; and crypto markets remained under stress with bitcoin near $20,500. (focus-economics.com)

On June 16, 2022, U.S. stocks slumped as recession fears intensified a day after the Federal Reserve’s 75-basis-point hike: the Dow fell 741 points (-2.4%) to close below 30,000 for the first time since January 2021, while the S&P 500 dropped about 3.3% and the Nasdaq more than 4%, erasing Wednesday’s bounce and leaving the S&P at its lowest since December 2020; the 10‑year Treasury yield hovered near the low‑3% range (~3.33%). (cbsnews.com) Global tightening added to the risk‑off tone, with the Swiss National Bank surprising markets with a 50‑bp hike and the Bank of England lifting rates by 25‑bp the same day. (cnbc.com) Fresh data pointed to a slowing—but still tight—economy and a cooling housing market: initial jobless claims were 229,000 for the week ended June 11, May housing starts fell 14.4% to a 13‑month low and builder traffic had just slipped below breakeven, while the average 30‑year mortgage rate jumped to 5.78%—the largest weekly increase since 1987—against a backdrop of record U.S. gasoline prices around $5 per gallon. (bloomberg.com) Company headlines also colored sentiment: Revlon filed for Chapter 11 bankruptcy protection, and Elon Musk addressed Twitter employees in a closely watched all‑hands meeting amid his bid for the company. (bloomberg.com)

On June 15, 2022, U.S. stocks rebounded after the Federal Reserve delivered a 0.75 percentage point rate hike—the largest since 1994—signaling a forceful push against inflation while leaving room for flexibility at upcoming meetings. Equity indices closed higher, led by technology and other growth shares, even as the broader backdrop remained fragile. Treasury yields, which had surged into the week, eased back after the decision, and the dollar’s advance cooled slightly; oil prices stayed elevated, keeping inflation pressures in focus. Fresh data the same morning showed May retail sales unexpectedly declined, underscoring mounting demand headwinds, while stress in crypto markets persisted and an emergency European Central Bank meeting to address bond-market strains helped stabilize global risk sentiment.

On Tuesday, June 14, 2022, U.S. markets reflected persistent inflation and rising-rate anxiety but finished mixed: the S&P 500 slipped modestly and remained in bear-market territory, the Dow fell about half a percent, while the Nasdaq eked out a small gain. Fresh May producer-price data showed inflation running hot at 10.8% year over year, reinforcing expectations that the Federal Reserve would opt for a 0.75 percentage point hike at its meeting concluding June 15. Treasury yields jumped, with the 10‑year around 3.48% (briefly inverting with the 2‑year), and mortgage rates surged above 6%, adding to tightening financial conditions. Consumers still faced record pump prices near $5 per gallon, keeping headline inflation pressures elevated. Risk sentiment was further hit by the crypto selloff and a high-profile layoff announcement: Coinbase said it would cut 18% of its staff as Bitcoin hovered near the low‑$22,000s. (bls.gov)

On June 13, 2022, U.S. markets sold off sharply as investors digested Friday’s hotter‑than‑expected inflation report and braced for tighter policy: the S&P 500 fell 3.9% to 3,749, closing in bear‑market territory more than 20% below its January high, the Dow dropped 876 points, and the Nasdaq slid 4.7%, with every S&P 500 stock lower at one point during the session. (bls.gov) Treasury yields jumped and the curve flattened into the close, with the 10‑year near 3.37% and the 2‑year around 3.33%, while a Wall Street Journal report signaled the Federal Reserve was considering a 75‑basis‑point hike at its mid‑June meeting. (morganstanley.com) Risk aversion extended beyond equities after crypto lender Celsius halted withdrawals, exacerbating a broader crypto slump. (cnbc.com)

On June 10, 2022, U.S. stocks sank after a hotter‑than‑expected May CPI report showed inflation running at 8.6% year over year and 1.0% month over month, the highest annual pace since 1981, stoking expectations for more aggressive Federal Reserve tightening; the S&P 500 fell 2.9% to 3,900.86, the Dow dropped 880 points (‑2.73%) to 31,392.79, and the Nasdaq slid 3.52% to 11,340.02 as Treasury yields jumped (2‑year near 3.06%, 10‑year around 3.15%). A preliminary University of Michigan survey the same day showed consumer sentiment plunging to a record low of 50.2, amplifying recession worries; crude hovered near $120 a barrel and the national gasoline average was nearing $5, underscoring persistent energy‑price pressure. (bls.gov)

On June 9, 2022, U.S. stocks fell sharply in a late-day selloff as inflation anxiety and rising rates weighed on sentiment: the S&P 500 dropped about 2.4% to 4,018, the Dow fell roughly 638 points (-1.9%), and the Nasdaq slid 2.7%. (cbsnews.com) Treasury yields pushed above 3% (the 10-year near 3.03%), while the European Central Bank said it would end net asset purchases on July 1 and signaled rate hikes in July and September, reinforcing a global tightening backdrop ahead of the U.S. CPI report due the next day. (cbsnews.com) Weekly initial jobless claims rose to 229,000 even as continuing claims held near multi-decade lows, pointing to a still-tight labor market. (oui.doleta.gov) Gasoline prices hovered near a record national average around $5 per gallon, and energy’s surge—along with Ukraine-war and China-COVID disruptions—added to growth concerns. (axios.com)

On June 8, 2022, U.S. markets traded choppily and finished mixed to slightly lower as investors positioned ahead of the May CPI release due June 10 and the Federal Reserve meeting the following week. Treasury yields hovered around the 3% mark and edged higher, reinforcing tightening expectations, while crude oil held near multi‑month highs around $120 per barrel, keeping inflation worries front and center. Energy shares outperformed on elevated commodity prices, but broad risk appetite was restrained by global growth concerns following high‑profile downgrades to 2022 forecasts earlier in the week and fresh stagflation warnings, as well as lingering supply‑chain issues. Retail sentiment remained fragile after a major profit warning from a leading big‑box retailer the prior day highlighted excess inventory and margin pressure, and overseas policy chatter before the June 9 European Central Bank meeting added to rate‑path uncertainty.

On June 7, 2022, U.S. stocks closed higher—Dow up roughly 0.8%, S&P 500 about 1.0%, and Nasdaq about 0.9%—as the 10‑year Treasury yield eased to just under 3% and investors looked past a fresh Target profit warning about discounting to clear excess inventory. Oil hovered near three‑month highs (WTI around $119 per barrel), underscoring persistent inflation pressures, while markets largely priced a 50 bp Fed hike for the June meeting and digested a surprise 50 bp move from Australia’s central bank; deal chatter around Kohl’s added stock‑specific volatility, and bitcoin slipped back below $30,000. Macro data into the day still showed a tight labor market (May payrolls +390,000; unemployment 3.6%), even as growth worries lingered. (thestreet.com)

On June 6, 2022, U.S. stocks were little changed to modestly higher as investors balanced still-strong labor data with intensifying inflation pressures and looming policy decisions: the S&P 500 finished near 4,121 (about +0.3% on the day) while the Dow hovered around 32,916 and the Nasdaq underperformed slightly; 10‑year Treasury yields held near 3% as markets stayed positioned for another 50 bp Fed hike later in June and the start of quantitative tightening, with attention fixed on the June CPI report due that Friday. Energy prices remained a major macro driver, with WTI crude around $119–$120 a barrel and the national average gasoline price hitting a record near $4.86–$4.87 per gallon, reinforcing the inflation narrative. Company‑specific headlines also shaped sentiment: Amazon began trading post‑split after its 20‑for‑1 stock split, Apple’s WWDC dominated the news cycle (its Pay Later push weighed on buy‑now‑pay‑later peers), and crypto faced fresh regulatory scrutiny following reports of an SEC review tied to Binance’s BNB token.

On June 3, 2022, U.S. stocks fell after the May jobs report showed a still‑strong labor market (nonfarm payrolls up about 390,000, unemployment 3.6%, average hourly earnings up 0.3% month over month and roughly 5.2% year over year), reinforcing expectations for continued aggressive Federal Reserve rate hikes. The Dow, S&P 500, and Nasdaq all ended lower, led by declines in rate‑sensitive growth shares, while Treasury yields rose around the 10‑year and the dollar firmed. Oil prices stayed elevated in the high‑$110s despite OPEC+ saying it would accelerate production increases for July and August, with the ongoing Russia‑Ukraine war and European efforts to curb Russian oil supporting crude. Sentiment was further pressured by company‑specific headlines, notably reports that Tesla would pause hiring and reduce headcount after its CEO warned of a “super bad feeling” about the economy, adding to concerns about slowing growth amid persistent inflation.

On June 2, 2022, U.S. stocks finished mixed to slightly lower—Dow and S&P 500 slipped while the Nasdaq eked out a gain—as investors weighed a sharp downside surprise in ADP’s May private-payrolls (+128,000) against ongoing Fed tightening signals and a surprise profit/revenue guidance cut from Microsoft on foreign-exchange headwinds; OPEC+ also accelerated its planned output hikes for July–August by 648,000 bpd, while weekly initial jobless claims fell to 200,000, underscoring a still-tight labor market and complicating the inflation picture. Oil prices whipsawed on the OPEC+ news and ended higher into the next session, adding to the day’s crosscurrents for risk assets. (spartancapital.com)

On Wednesday, June 1, 2022, U.S. stocks slipped as investors weighed resilient factory activity and a still-tight labor market against the start of Federal Reserve balance-sheet runoff and fresh recession warnings: the S&P 500 fell about 0.75% to 4,101, the Dow roughly 0.54% to around 32,813, and the Nasdaq about 0.72% to 11,994, while the 10-year Treasury yield rose to near 2.92%. (eoption.com) The May ISM Manufacturing PMI printed 56.1, signaling ongoing expansion even as growth cooled from earlier in the year, and April’s JOLTS report still showed an exceptionally tight labor market with 11.4 million job openings. (prnewswire.com) The Fed also began quantitative tightening that day, initially allowing up to $47.5 billion in Treasurys and MBS to roll off monthly, adding to policy headwinds. (tellerwindow.newyorkfed.org) Crude hovered near $115 as EU leaders moved to phase in a ban on most Russian oil and Shanghai’s reopening stoked demand hopes, while JPMorgan’s Jamie Dimon warned investors to “brace yourself” for an economic “hurricane,” souring sentiment. (economictimes.indiatimes.com)

On May 31, 2022, U.S. stocks slipped to close the month with only marginal overall change after a late rally: the Dow Jones Industrial Average finished at 32,990, the S&P 500 at 4,132, and the Nasdaq Composite at 12,081, while the 10‑year Treasury yield hovered near 2.85 percent. An EU deal to ban most seaborne imports of Russian crude pushed oil higher (WTI near $119, Brent around $123), intensifying inflation concerns and weighing on risk appetite. Economic data were mixed: The Conference Board’s Consumer Confidence Index edged down to 106.4 in May, Chicago PMI surprised to the upside at 60.3, and housing momentum remained hot with March home prices up 20.6 percent year over year on the S&P CoreLogic Case‑Shiller Index. At the White House, President Biden met Fed Chair Powell and emphasized tackling inflation, reinforcing expectations for continued aggressive monetary tightening. (statmuse.com)

On May 27, 2022, U.S. stocks rallied into the Memorial Day weekend and snapped a weeks‑long losing streak, with the S&P 500 closing near 4,158, the Dow around 33,213, and the Nasdaq near 12,131, capping the best week since November 2020 as investors cheered signs that inflation pressures might be easing and that the Fed could slow its pace later in the year. The day’s data showed April core PCE inflation rose 4.9% year over year (headline PCE 6.3%) while personal spending advanced, even as the University of Michigan’s final May consumer sentiment fell to 58.4 and GDP’s second estimate confirmed a −1.5% annualized contraction in Q1—an uneasy mix of cooling inflation, still‑resilient consumption, and growth concerns. Oil hovered near recent highs and U.S. gasoline prices were around record Memorial Day levels, while Treasury yields eased with the 10‑year near 2.74%, together shaping a risk‑on tone led by big tech and consumer‑discretionary names amid ongoing Russia‑Ukraine energy disruptions and talk of a potential EU oil embargo. (statmuse.com)

On May 26, 2022, U.S. stocks rallied for a second straight session as upbeat retail earnings and guidance from discount chains (notably Dollar General and Dollar Tree) and Macy’s helped ease fears sparked earlier in the week by big‑box retailers’ warnings. Sentiment also improved after the prior day’s Fed minutes signaled support for 50 bp hikes over coming meetings without indicating a larger 75 bp move, while the 10‑year Treasury yield eased from recent highs. On the macro front, the second estimate of Q1 GDP showed a deeper — though still modest — annualized contraction of about 1.5%, highlighting growth headwinds even as initial jobless claims hovered near historically low levels and inflation remained elevated. Housing showed further cooling with a decline in April pending home sales, energy prices stayed high amid the ongoing Russia‑Ukraine war, and Nvidia’s cautious outlook tempered gains in some semiconductors. Overall, risk assets rebounded broadly with consumer discretionary and tech leading, but volatility and recession concerns persisted.

On Wednesday, May 25, 2022, U.S. stocks finished higher after the Federal Reserve’s May meeting minutes reassured investors that policymakers aimed to move “expeditiously” toward a more neutral stance with further 50 bp hikes likely in June and July; the Dow rose 0.6% to 32,120.28, the S&P 500 gained 0.95% to 3,978.73, and the Nasdaq added 1.51% to 11,434.74. (aljazeera.com) The minutes also flagged that a restrictive stance could become appropriate if needed to tame inflation. (federalreserve.gov) Rates were steady-to-softer, with the 10‑year Treasury yield hovering near 2.76% by late afternoon. (cnbc.com) Fresh data showed April durable‑goods orders up 0.4%, while inflation remained elevated at 8.3% year‑over‑year in April, underscoring a cooling-but-resilient economy under price pressure. (census.gov) Oil stayed above $110 a barrel (Brent ~$114.83, WTI ~$111.22), keeping energy costs in focus. (as.com) Company headlines mixed the tone: Nordstrom’s upbeat outlook buoyed higher‑end retail during the session, gunmaker shares rose as investors reacted to the May 24 Uvalde school shooting, and after the close Nvidia’s softer guidance pressured semiconductors in after‑hours trading. (ww.fashionnetwork.com)

On Tuesday, May 24, 2022, U.S. equities finished mixed: the Dow Jones Industrial Average edged up to about 31,928 even as the S&P 500 slipped to roughly 3,941 and the Nasdaq Composite fell 2.4% to 11,264, with sentiment hit by a late‑Monday profit warning from Snap that sparked a broad selloff in ad‑dependent tech. (statmuse.com) Snap plunged about 43%, dragging peers and weighing on growth benchmarks. (washingtonpost.com) Macro data added to caution: April new‑home sales fell 16.6% month‑over‑month to a 591,000 annual rate (lowest since early 2020), while May flash PMIs pointed to moderating—still expansionary—activity (manufacturing near 57.5, services about 53.5, composite around 53.8). (census.gov) Treasury yields eased as investors rotated to safety, reflecting recession worries amid 40‑year‑high inflation and aggressive Fed tightening plans. (cnbc.com)

On Monday, May 23, 2022, U.S. stocks rebounded after seven straight weeks of losses as banks and megacap tech led a broad rally: the Dow rose 1.98% to 31,880, the S&P 500 gained 1.86% to 3,973.75, and the Nasdaq added 1.59% to 11,535.28; a bullish JPMorgan investor day that lifted its 2022 net interest income outlook to about $56 billion supported financials, while VMware surged on reports of takeover talks with Broadcom. Bond yields firmed, with the 10‑year Treasury around 2.87%, and oil remained elevated near $111–$114 per barrel, underscoring persistent inflation and tight energy markets; investors were also eyeing Fed minutes later in the week that were expected to reinforce 50-basis-point hikes at upcoming meetings. Geopolitics entered the mix as President Biden, in Tokyo, said the U.S. would be willing to defend Taiwan and announced the launch of the Indo-Pacific Economic Framework with a dozen partner countries; after the closing bell, Snap warned it would miss Q2 revenue and EBITDA guidance and would slow hiring, hitting social-media and ad-tech shares in after-hours trading and setting a cautious tone for the next session. (straitstimes.com)

On Friday, May 20, 2022, U.S. stocks seesawed as the S&P 500 briefly fell more than 20% from its January 3 peak (an intraday bear market) before closing essentially flat around 3,901; the Dow finished roughly unchanged and the Nasdaq slipped about 0.3%. Treasury yields eased as growth worries met a still‑hawkish Fed, with the 10‑year near 2.78%. Macro signals stayed mixed: April CPI was 8.3% year over year, University of Michigan consumer sentiment for May hovered near cycle lows, and the national average gasoline price hit a record near $4.59 per gallon. Retail disappointments earlier in the week (notably Walmart and Target) highlighted margin pressure from freight, fuel, and bloated inventories, and discount chain Ross Stores slumped on fresh guidance, while China’s surprise 15 bp cut to its five‑year loan prime rate offered a brief global risk bid amid ongoing supply‑chain strains from the war in Ukraine and lingering COVID disruptions. Energy remained the only S&P 500 sector up year to date, underscoring the market’s defensive tone. (cnbc.com)

On Thursday, May 19, 2022, U.S. stocks extended the week’s slide, with the Dow Jones Industrial Average closing down about 236 points (~0.8%), the S&P 500 off 0.6% at 3,900.79, and the Nasdaq slipping roughly 0.3%, leaving the S&P on the cusp of a bear market as investors digested stubborn inflation and a run of downbeat corporate and economic signals. Fresh data showed weekly initial jobless claims rose to 218,000, the Philadelphia Fed’s manufacturing index fell to 2.6 (a two‑year low), and April existing‑home sales declined 2.4% to a 5.61 million annual pace, while the Conference Board’s Leading Economic Index dropped 0.3% in April; Treasury yields eased near 2.84% on the 10‑year as growth worries built. Sentiment was further hit by big‑box retailers warning of margin pressure from fuel and labor costs earlier in the week and by Cisco’s weak outlook tied to supply constraints and China lockdowns; oil hovered near $112 a barrel and U.S. gasoline averages were sitting around record levels, compounding consumer‑spending concerns. (amp.cnn.com)

On Wednesday, May 18, 2022, U.S. stocks suffered their worst single-day decline since 2020 as recession worries and margin pressure at major retailers triggered a broad selloff: the Dow Jones Industrial Average fell about 1,164 points (−3.6%), the S&P 500 dropped roughly 4.0%, and the Nasdaq slid about 4.7%. The rout followed Target’s earnings miss and a 52% profit drop that sent its shares down about 25%, a day after Walmart cut its outlook; Lowe’s also disappointed, stoking fears that high inflation is eroding profits and demand even as the Federal Reserve signals it will keep tightening until inflation decisively eases. Adding to the day’s tone, fresh data that morning showed housing momentum cooling—April single‑family starts fell 7.3% month over month (overall starts 1.724 million; permits 1.819 million)—while April retail sales released the prior day still showed resilient consumer spending (+0.9%), underscoring a mixed economic picture of strong demand colliding with elevated prices and tighter policy. (cnbc.com)