July 26th Weekly Economic Update

This week we saw most major averages outside of the Nasdaq react well to the first major week of 2nd Quarter Earnings that were reported. Although the Federal Reserve (Fed) appears poised to raise interest rates again on July 26, and perhaps telegraph another rate increase is possible before the end of the year, markets including equity and bond markets, currency markets, and recently the energy complex, perceive the Fed is nearing the end of its rate hiking cycle. With GDP is still in positive territory, and as we see early indications that the lagging manufacturing sector may be turning the corner, demand for crude oil products have a chance to steadily edge higher.