Stocks Have Worst 6 Months in More Than 50 Years
The stock market has experienced its worst first half of the year in more than 50 years. As of June 30, the S&P 500 index, which monitors the performance of 500 large public companies, fell more than 21% since the first day of 2022.
According to multiple reports, the stock market has not seen a worse six months to begin the year since 1970.
As a series of selloffs characterized the month of June, a forecast from investment bank Morgan Stanley indicated that the S&P 500 could drop another 15% to 20%, reports Daily Wire.
For the month of June alone, the index is on track to slide by 7.6%.
All 11 major sectors in the index are heading toward monthly losses, with the cyclical energy, materials, and financial sectors among the worst performers as fears over a recession have resurged.
That leadership also reversed what was seen earlier this year, when energy stocks outperformed amid oil and other energy commodities’ march higher. The more defensive healthcare, consumer staples, and utility sectors outperformed in June.
Both the Dow and Nasdaq Composite also headed for marked monthly and year-to-date losses. As of Thursday’s close, the Dow had fallen 14.6% for the first half of the year, and the Nasdaq shed nearly 29%, according to Yahoo.
All three major U.S. stock indexes finished the month and the second quarter in negative territory, with the S&P 500 notching its steepest percentage drop in the first six months of a year since 1970 https://t.co/RyRQe8dEqx pic.twitter.com/OGQnBurE2H
— Reuters (@Reuters) July 1, 2022
PEOPLE AREN’T CONCERNED ABOUT THEIR DIVERSION
They can hold J6 panels, report every gun crime in the country–mostly by gangs, and they can rant about abortion, but Americans care about inflation.
A new Cygnal poll commissioned by the Republican State Leadership Committee found that Americans are more worried about inflation than they are about abortion.
Just eight percent of Americans feel abortion is a top issue for them, while 37 percent of voters say inflation and the high cost of living is their main concern, and 16 percent of people believe the economy, in general, is an important pressing issue, according to Townhall.
Friday’s decision did nothing to change the headwinds state Democrats will face this year as a result of a dismal national political environment.
In fact, the right/track/wrong/track numbers and President Biden’s approval rating are worse for Democrats than in our January survey.
Only 23% of likely voters think the country is on the right track compared to 74% who believe it is on the wrong track.
Biden is underwater at 41% favorable, 57% unfavorable. Republicans state legislative candidates still lead on the generic ballot (47%-45%).
Among the voters surveyed, 48% said they would prefer a Republican candidate who would act as a check and balance on President Biden and his Democratic policies compared to 44% who would prefer a Democratic candidate who would support President Biden and his Democratic Policies, reports Cygnal.
As inflation become stagflation, Biden is busy funding our 51st state which is not PR or DC. It’s Ukraine.
INFLATIONARY UKRAINE SPENDING
President Biden said Thursday that the U.S. plans to send an additional $800 million in security assistance to Ukraine, including advanced air defense systems and other “offensive” weapons.
Biden disclosed the plans during a news conference following a NATO summit in Madrid, where he declared the alliance united in response to Russia’s war in Ukraine, the Hill reports.
President Joe Biden said Thursday that the United States will “stick with Ukraine to make sure they are not defeated by Russia.”
Biden refused to place any limits on U.S. assistance to Ukraine while speaking with reporters at a NATO Summit press conference in Madrid, Spain. The U.S. has given billions to Ukraine since Russia’s February 24 invasion.
“We are going to support Ukraine as long as it takes,” Biden told reporters when asked about the future of the United States’ commitment to Ukraine. The president pointed to the drain that the war is having on Russia, reports Daily Wire.
When he is not sending money and weapons, he’s adding sanctions that only hurt the US.