Small Cap Love Is in the Air | July 15th, 2024

Last week, the broader market surged following remarks from Fed Chair Powell and a softer-than-expected CPI report, with small caps gaining over 5% and mid-caps rising more than 4%. The bond market rallied, with the 10-year Treasury yield dropping to its lowest level since March. This week, earnings season kicks off with 45 S&P 500 companies reporting, and consensus calls for 9.3% composite growth on 4.8% revenue growth. Retail Sales data for June will be released on Tuesday, expected to show a 0.1% month-over-month decline. Additionally, the jobs market is cooling, suggesting potential rate cuts ahead.

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