Weekly Commentary | July 14, 2024 | EIM Tender Completes, PCF Looks Good. DSM A Buy.

Macro Picture

Inflation cooled further in June leading to a belief that the Fed is ready to start cutting interest rates as soon as September. This sparked a rotational trade from the megacap tech names to small caps, although the major indices still hit new record highs.

The Russell 2000 index gained nearly 6.0% on the week, its best week since early Nov…