June 13-17, 2022 Recap

The S&P 500 capped its 10th weekly decline in the last 11 weeks after weakening retail sales data added to angst over worsening growth fears while the Federal Reserve raised rates by 0.75%, its largest rate hike in 28 years. Moreover, Fed Chairman Powell opened the door for possibly the same aggressive hike at the Fed’s next policy meeting in July. Such a move would take its three-month set of increases to 2%, the most since 1982.

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The Weekly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.