Published on 1 Aug 2022 on Zacks via Yahoo Finance
Pre-markets Open in Red After July Rally
Stock futures dip in pre-market trade to start August after witnessing an impressive northbound journey in July. Except for the second half of March, Wall Street melted significantly in the first half of 2022.
The July rally was sustained till the last day of trading even though the Fed raised interest rate by 75 basis points in two consecutive months and the U.S. GDP contracted in the first two quarters of this year.
Last month was the best for Wall Street after November 2020. The investors community is divided about whether the market has bottomed out or it witnessed a bear market relief rally. The market’s movement in August will be important indicator.