In June, The U.S. economy showed mixed signals, with some indicators pointing to resilience while others suggested caution. The unemployment rate stood at 4%, a slight increase from previous months but still historically low. Despite this uptick, employers added a robust 272K jobs last month, demonstrating continued strength in the labor market.
Looking at the US Conference Board survey, consumers continued to express concerns about elevated prices, especially food and energy as people expect inflation to remain elevated. However, there were some positive signs, as nearly half (48.4%) of survey participants expect the US stock market to rise over the next twelve months compared to only about a quarter (23.5%) expecting a decrease.
Turning to housing, last month the housing market showed signs of stabilization but continued to face affordability challenges. According to Redfin, last month home prices increased by 5.1% YoY, with the median selling price approaching $440K.
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