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Daily U.S. Market Update

Michael Reinking, CFA
Sr. Market Strategist

August 16, 2022 at 2:15 p.m. EDT

Yesterday, US equity markets shrugged off some early losses to end the session modestly higher. That weakness was in response to some ugly global economic data, but it was short-lived as the mechanical bid re-emerged. Today, investor focus shifted to earnings reports from major retailers. Like most of Q2 earnings season those reports came in better than feared.

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