The earnings season that’s currently underway may add to more negative sentiment. Wall Street analysts have not yet begun to lower earnings estimates for YTD, despite weakening economic indicators & data.
The low for the S&P 500 set on June 17th might again be tested as fears of a recession are setting in. The transition has swung from fears about inflation to fears about a recession.
As we are seeing, the markets are becoming more and more concerned with a recession and a prolonged inflationary environment. This is not a surprise when you examine the data close enough, but not everyone does...