![]() ![]() The May Consumer Price Index (CPI) was released the morning of June 13th and rose 0.1%. Together, the data paints a picture of a job market that remains tight. ![]() Nonfarm payrolls added 339,000 jobs, in line with the monthly average. Bureau of Labor Statistics' Employment Situation report at the beginning of the month reflected a marginal increase in the unemployment rate, bringing the figure to 3.7%. The June IMX period included macroeconomic catalysts and saw a rally in major equity indices as fears of further interest rate hikes and recession appeared to ease. At a sector level, we did see strong buying interest in Information Technology, Health Care, and Consumer Staples, but clients were savvy in seizing some profit opportunities from names that soared during the month's market rally." "We see this from time to time, including just last month. "In June, we again saw clients increasing their exposure overall, but net selling equities," said Joe Mazzola, Director of Trading and Education at Charles Schwab. The reading for the four-week period ending Jranks "moderate low" compared to historic averages. The IMX is TD Ameritrade's proprietary, behavior-based index, aggregating Main Street investor positions and activity to measure what investors actually were doing and how they were positioned in the markets. The Investor Movement Index ® (IMX SM) increased to 5.46 in June, up from its score of 5.12 in May. ![]()
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