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Modest daily stock gains cinched a strong six months on Wall Street, fueled by investors’ optimism that inflation is easing while the economy continues to hum. Fresh spending data added momentum on Friday, showing milder core-price increases in May compared with a month earlier, while consumer outlays continued to rise. The data lifted major stock indexes on a day of calm trading, rounding out the Nasdaq Composite’s best first half of a year in four decades. …
A positive business climate has helped stocks across the board. But goods sellers face headwinds as consumers continue to shift spending toward travel and experiences, said James St. Aubin, chief investment officer at Sierra Mutual Funds.
The thoughts and opinions expressed in the article are solely those of the person speaking as of 6/30/2023, and not necessarily those of Sierra and are provided for informational purposes only. Any opinion or estimate contained in this article is made on a general basis and is not to be relied upon by the reader as advice. The reader must make his/her own assessment of the relevance, accuracy, and adequacy of the information contained in this article, and make such independent investigations as he/she may consider necessary or appropriate for the purpose of such assessment.
0208-SI00XLAP 07122023
