The S&P 500 (^GSPC) closed Tuesday above 5,500 for the first time ever, while June's ADP employment report revealed slowing jobs growth. JPMorgan Wealth...
) closed Tuesday above 5,500 for the first time ever, while June's ADP employment report revealed slowing jobs growth. JPMorgan Wealth Management global investment strategist Elyse Ausenbaugh joins Morning Brief to discuss the economy's health as Wall Street enters the second half of the year.
So talk to me about the data we got this morning because we are seeing treasuries falling a little bit off of it.I think the bigger picture is the the primary driver of the story, right?But all in all we continue to see a labor market that remains rather robust and working in the favor of consumers with positive real wage growth.
But for Fed chair Jay Powell, who is coming out in Portugal yesterday, of all places won't even say this on our home soil coming out in Portugal and saying, hey, we need to see more evidence.I think it is a continuation of the trend that's resumed in the second quarter of this year. Speaking of those rolling recoveries and earnings, though, I am curious, the degree to which earnings are going to drive the market heading into the next couple of months here or is it going to be politics or the fed?So in the near term, I think with all the uncertainty, that's kind of rearing its ugly head related to the elections that very well could stoke more volatility.
What do you think that the theme that prevails this earnings season is look in Q one, we saw a lot of focus and mentions of things like artificial intelligence.
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