U.S. stocks wrapped up another bountiful week with the S&P 500 closing Friday at its seventh consecutive all-time high, a double feat not seen since 1997. Wall Street participants heralded a Goldilocks job report that topped consensus forecasts, but the unemployment rate edged 0.1% higher to 5.9%. The data boosted investor confidence that the Federal Reserve will not rush to raise rates or taper monthly asset purchases anytime soon.
BlackRock still see opportunities in the office sector of the global real estate market, but with changing work patterns driving dispersion across assets and locations.
U.S. job growth accelerated in June, signaling labor market bottlenecks could be starting to ease. Stocks hit record highs.
Investors will focus on global services purchasing managers’ index (PMI) data to gauge if the restart has broadened out to the contact-intense sector.
Old Guard Companies Adapting to Change -- Capital Group
Mid-Year Outlook View -- Various
Many of our sub-advisory partners have published their mid-year economic outlooks. The term "dislocation" is a good one to characterize where global economies are in the initial stages of recovery from the crisis-phase of the pandemic.