Market Report Jul 11 2023

Written By Javid Shaik

On Monday, equity markets made modest gains and saw advances across the broader market. In fact, there was more than double the number of stocks advancing in NYSE and Nasdaq than decliners so the session had good breadth.

The majority of U.S. Sectors closed with gains and the main European averages ended the day positive.
Market participants are mainly pricing in an 89% probability of a 25 basis points hike at the upcoming FOMC meeting scheduled for July 25-26. Market expectations suggest a peak in the funds rate of 5.42% by November. This might explain the slight increase in the VIX.

Javid Shaik
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Market Report Jul 09 2023