Many analysts view the recent rise in equities as a momentum rally, meaning that only a few companies have been leading the overall rise in the market. Earnings are becoming extremely critical as companies struggle to maintain higher prices as consumer demand weakens.

A concentration of companies in select sectors has thus far led the market this year, with technology and consumer discretionary stocks exhibiting the largest contribution. The utilities and energy sectors lagged as rising rates and decreasing commodity prices hindered the sectors.

Sources: S&P, Bloomberg, Dow Jones

Print Version: Equity Volatility Increases Domestic Stocks Overview July 2023

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