Choppy Week Ends in Sell-off as Iran War Intensifies
Markets traded in a narrow range for much of the week before selling off on Friday as tensions with Iran escalated. While the war remained in focus, softer-than-expected CPI and PPI reports, along with resilient retail sales, underscored the strength of the U.S. consumer. Earnings season has also started on a strong note, with roughly 10% of S&P 500 companies reporting results with expected Q2 earnings growth rising from 23.6% to 24.7%.
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