- The major U.S. stock indexes improved in July. The Dow Jones Industrial Average increased by 1.0%, the S&P 500 was up 1.3% and the Nasdaq Composite advanced 2.1%.
- Continuing the trend since the beginning of 2018, the U.S. Dollar Index strengthened by 2.5% in July. The Index is used to measure the value of the U.S. dollar versus six major foreign currencies. A stronger dollar lowers the cost of imports, increases the price of exports to foreign purchasers and reduces the value of overseas revenues and profits of international U.S. corporations.
- Cash trends in mutual fund investing are a proxy for market shifts in asset class investing sentiment. Stock funds posted an outflow of $37.2 billion in June, compared with an outflow of $8.8 billion in May. Bond funds had an inflow of $14.5 billion in June, compared with an inflow of $14.3 billion in May.
Disclosure: This commentary reflects the opinions of Welch & Forbes based on information that we believe to be reliable. It is intended for informational purposes only, and not to suggest any specific performance or results, nor should it be considered investment, financial, tax or other professional advice. It is not an offer or solicitation.
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