The S&P 500 and Nasdaq Composite both capped their second straight weekly finishes at all-time highs amid continued U.S. economic optimism. The holiday-shortened week ended largely upbeat following a strongerthan-expected June jobs report and a surprise decline on the nation’s unemployment rate. The combination, however, has reduced the odds for a July Fed rate cut with 95% chance policymakers will hold rates steady this month.
The Weekly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.