The View from 5th Avenue

The View at Two – 23 July 2020

Summer Stumble… US indices have continued to slide lower heading into the afternoon as the S&P is on track to break its streak of 4 consecutive green sessions. China tensions still aren’t drawing much concern, but with Microsoft (MSFT -3.4%) leading Tech lower and without any fresh vaccine news to lean on, the weakness has picked up a bit over the last hour. Signs of sputter in the labor market have also put a dent in sentiment after initial jobless claims rose for the first time since March, reminding that stocks’ successful V-shape recovery isn’t necessarily mirrored in the real economy.

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