US Services Sector Signals Strong Growth, Beats Expectations, Amplifying Rate Hike Concerns
Portfolio Pulse from Piero Cingari
The U.S. economy continues to show strong growth, with the ISM Services PMI exceeding expectations in June. This has led to concerns about potential interest rate hikes, especially with the high ADP employment growth. The S&P 500 ETF Trust (NYSE:SPY) was down 1.3% due to these concerns.
July 06, 2023 | 2:27 pm
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The S&P 500 ETF Trust (NYSE:SPY) was down 1.3% due to concerns about potential interest rate hikes.
The strong growth in the U.S. economy has led to concerns about potential interest rate hikes. This has put pressure on the equity markets, leading to a drop in the price of the S&P 500 ETF Trust (NYSE:SPY).
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