Weekly Market Snapshot – June 28th, 2021
Created by: Sam Tenney
- with the 2Q21 earnings season approaching, JP Morgan believe that earnings will come in well above current estimates, and are forecasting an earnings surprise of 14.6% for the S&P 500. This would represent a decline from the 23.7% surprise observed in 1Q21, but would still be above the long-run average of 7%.¹
- The Senate has passed the Biden Infrastructure bill, the 1.2 trillion dollar bill with a large focus on public utilities, electronic utilities, and major roadway initiatives. The spending and allocation will be done over the course of the next 8 years.²
- Republican senators are worried the fed might be “behind the curve” on inflation, as the recent months large inflation prints have left markets worried about the future for government interest rates. The 10-year bond is currently yielding 1.48%. ³
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