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Read the highlights of this week's commentary from Helios:
- Inflation substantially improved in June with yearly price increases slowing to 3.0%, down a full percentage point over May’s report, and putting it at a two-year low. The improvement may make the Fed’s expected 25 basis point hike later this month their last. Monthly prices increased 0.2%, below expectations of a 0.3% increase.
- Consumer sentiment rose in July’s preliminary survey, putting consumer attitudes at their most optimistic (or least pessimistic) since the summer of 2021.
- Second quarter earnings season kicked off with all of the three major banks that have reported so far (Citi, JPMorgan Chase, and Wells Fargo) all beating estimates, though JPMorgan Chase blew through earnings estimates by just over 24%.
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