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The CML Close - Stocks up, small caps down, inflation may be ending - 07-06-2022




Date Published:



Markets
Stocks rose but small caps fell. The inflation spike may be ending. 

SPX 3,845.08 +13.69 (+0.36%)
NASD 11,361.85 +39.61 (+0.35%)
DJIA 31,037.68 +69.86 (+0.23%)
R2K 1,727.55 -13.79 (-0.79%)
VIX 26.79 -0.75 (-2.72%)
Oil 98.48 -1.02 (-1.03%)

• United States job openings are cooling.

• The Logistics Managers Index fell to a two-year low and stayed below the long-term average of 65.3 for the first time since July 2020.

• Non manufacturing prices hit the lowest reading since September last year.

• Wall Street Says a Recession Is Coming.

Headlines of the Day
S&P 500 rises as Fed reaffirms commitment to bringing down inflation
U.S. stocks moved higher on Wednesday as investors pored over the latest minutes from the Federal Reserve.

Wall Street Says a Recession Is Coming. Consumers Say It's Already Here
Shoppers are getting squeezed and money is disappearing fast

Copper Crash Deepens as Recession Fears Dominate Metals Trading
US slowdown, Europe gas crisis, China virus woes taking a toll.

This Inflation Spike May Be Ending.
Looking ahead, almost everything is pointing to an abrupt U-turn in the economy’s fortunes. If a serious recession is coming, inflation could come to heel almost as quickly as it seemed to spiral out of control.

US Logistics Gauge Shows Economy Downshifting Into Second Half
Logistics Managers’ Index fell a third month from March peak. Transport measures are falling fast as demand softens.

Economic Data Results for 6-22-2022
United States LMI Logistics Managers Index Current
The Logistics Manager’s Index in the US extended the decline for a third month in a row to a two-year low of 65 in June of 2022 from 67.1 in May, staying below the long-term average of 65.3 for the first time since July 2020.

United States Job Openings
The number of job openings in the US was 11.3 million in May of 2022, down slightly from 11.7 million in April and a peak of 11.9 million in March. Figures came above market expectations of 11 million and were still above pre-pandemic levels, suggesting demand for workers remained robust.

United States ISM Non-Manufacturing Prices
The ISM Non Manufacturing Prices subindex in the United States decreased for a second month to 80.10 points in June of 2022 from 82.1 in May. It is the lowest reading since September last year.

United States ISM Non-Manufacturing Employment
ISM Non Manufacturing Employment subindex in the United States decreased to 47.40 points in June from 50.20 points in May of 2022. It is the lowest reading since August of 2020.

Economic Data Due Tomorrow on 6-23-2022
United States Challenger Job Cuts

United States ADP Employment Change

Initial Jobless Claims 02/JUL





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