💡 Summary:
• Production of consumer goods slumps most since early 2021
• Output dropped 0.5% in June for a second month, Fed says
• Boosted by a 36.7% surge in the production of motor vehicles and parts in the second quarter
• Manufacturing may benefit some in coming months as retailers get inventories more in line with sales and the pace of goods inflation slows
The June index of production at factories, mines and utilities decreased 0.5...

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Welcome back to Monthly Buzz. Earlier in February, both S&P 500 and Nasdaq soared to about five-month highs as Meta led a rally in the tech sector. However, the good times did not last long. Elevated valuations for overall US stocks, poor financial reports during earnings season, and rising interest rates left little room for future gains. Major indexes fell following the release of hotter-than-expected data on the labor market and...

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