John Hancock: Weekly Market Recap Week Ended June 14th

Eyes on the Fed

The U.S. Federal Reserve will open a two-day policy meeting on Tuesday amid market expectations that at least one interest-rate cut could come this year, given recent softness in employment growth and inflation data. If the Fed doesn’t announce a rate cut at its June meeting, it will have another opportunity at its July 30–31 session.

Tech lift 

Technology stocks have been a big source of the broad market’s gains so far in June. The six-day stretch that ended on Tuesday, June 11, marked the best such period in more than seven years for the S&P 500 Index’s information technology sector, as those stocks posted a nearly 9% gain, according to Dow Jones Market Data.

Industrial slowdown

China’s growth in industrial output was just 5% in May, the slowest pace in more than 17 years for the world’s second-largest economy. The government data was released on Friday as policymakers consider whether to take further steps to stimulate China’s economy amid a trade war with the United States.

Retail therapy

Despite other indicators of softening economic growth, U.S. retail sales continue to post solid monthly gains. The government reported on Friday that sales climbed a seasonally adjusted 0.5% in May compared with April.

Source: https://wmr.jhinvestments.com/