Market Recap – July 12th💰

Market Recap – July 12th

All major indexes performed poorly yesterday, with The Dow Jones dropping 0.62%, the S&P 500 sliding 0.92%, and The Nasdaq Composite falling 0.95%. According to Truist’s Keith Lerner the reason for this slow down is “Growth slowing and global central banks still tightening, both of which create concern in the markets.”

Looking at specific investments, we’re watching Goldman Sachs and Peloton. When it comes to Goldman, there’s been a new addition to the executive team. Specifically, they’ve hired Alphabet’s CEO Jared Cohen to help start a new innovation group. Looking at Peloton, the company is seeking to cut costs by outsourcing the manufacturing of their bikes to a Taiwanese manufacturer.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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