Is Big Tech’s dominance over?
Surging tech stocks drove returns during the pandemic, but rising interest rates may pressure their earnings.
Last week’s economic data were mixed. Retail sales growth was flat due in large part to falling gasoline and car prices; the retail sales control group suggests that consumers are not yet pulling back on spending. On the other hand, the housing market continued to cool — both existing home sales and housing starts fell — and recession indicators are drawing ever closer to signaling that a recession is likely in 2023.
Healthy compensation gains are expected to fuel July’s steady gain in personal income
View our informative commentary on the economy and financial markets – and find out what we’re watching for the week ahead:
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