Crude prices edge lower today as U.S. & Iranian officials engage in technical-level diplomatic talks, taking a bit of the geopolitical premium out of the market.
Brent Crude: ~ $76/bbl
WTI: ~ $72/bbl
Equity markets are breathing a quick sigh of relief as immediate energy-driven inflation fears take a back seat.
#inovowealth #designyourfreedom
AI stocks came under pressure this week after weaker-than-expected guidance reignited concerns that AI spending may be slowing. The selloff spread across the tech sector, pulling the Nasdaq and S&P 500 lower as investors reassessed their valuations. #inovowealth #designyourfreedom
Freedom is the ultimate foundation for growth, innovation, and a prosperous future. From your friends at Inovo Wealth Architects, we are wishing you all a spectacular Independence Day! โค๏ธ๐ค๐
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Please be advised that Inovo Wealth Architects will be closed in observance of the Independence Day holiday on Friday, July 3rd. We will re-open with normal hours on Monday, July 6th.
Thank You!!
Enjoy the time off.
๐ Christmas in July starts TODAY.
NASDAQ's 12-Day Midyear Rally โ last 3 days of June through first 9 of July โ has gained an avg 2.5% since 1985, hitting in 32 of 41 years (78%).
Grabbed $TQQQ this morn off the post-Triple-Witching dip.
#NASDAQ#Seasonality $QQQ
https://t.co/N8isN1YiRO
The 10yr Treasury curve has experienced notable shifts recently. Early this year, yields fell to their 2026 lows on expectations of near-term rate cuts. But a combination of sticky inflation and resilient economic growth caused an aggressive re-pricing, driving yields back up.
Happy Friday! US markets are CLOSED today for the Juneteenth holiday. A quick look at how we finished the week:
S&P crossed 7,500 (+1.08%)
Nasdaq surged 1.91% led by semiconductors
Brent crude hovers near $80/bbl as Strait of Hormuz tensions ease
#inovowealth#designyourfreedom
Global markets are shifting fast as the U.S. and Iran reach a framework agreement to end conflict & reopen the Strait of Hormuz. Brent & WTI crude slide to 3-month lows (WTI under $80). Major breath of fresh air for global trade inflation. #inovowealth#designyourfreedom
Still 60% of stocks in the S&P 500 above their 200-day MA, not great, but pretty solid.
And 20- and 50-day also trending higher since the mid-May weakness.
The S&P 500 recently was up more than 19% in two months.
You ready for this one? That has only happened seven other times and stocks were never lower 1 month, 3 months, 6 months, or a year later.
In fact, up more than 40% on average a year later. My oh my.
May Nonfarm Payrolls smashed expectations, coming in at +172k vs the ~80k expected!
Unemployment holds steady at 4.3%, but Wall Street is feeling the "good news is bad news" vibe. Rate cuts are officially on ice as the labor market stays red hot.
#inovowealth#designyourfreedom