Weekly Commentary | July 16, 2023

Macro Picture

Stocks rebounded this past week and showed strong gains thanks to a lower than expected inflation report.  The S&P 500 is now just 6.5% below its all-time high.  The Nasdaq is about 13% from an all-time high (it fell much more last year than the S&P).  

Interest rates have rolled over in the last few days since the inflation report as invest…