Looking Back at July
Worldwide economies have not been as robust in recent months as the United States economy. During the month of July, the U.S. economy was very strong, and the market reflected this with the S&P hitting all-time highs, passing the previous 2950 mark. This discrepancy between the U. S. economy and the rest of the world has caused the Federal Reserve (the Fed) to look at interest rates. At the August 1st meeting, the Fed lowered rates by a quarter percent, not because our economy was slowing, but because of the overall global economic environment. This, along with continued tariff talks, caused the market to move down the last day of July and going into August.