Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.1%) hovers near its flat opening level, while the Nasdaq (+0.3%) outperforms and the DJIA (-0.2%) lags.

The New York Fed June Survey of Consumer Expectations anticipates a decrease in short-term inflation and an improvement in household financial expectations. 

• "Median inflation expectations decreased by 0.2 percentage point to 3.0% at the one-year-ahead horizon. They were unchanged at the three-year- (3.0%) and five-year-ahead (2.6%) horizons in June. The survey's measure of disagreement across respondents (the difference between the 75th and 25th percentiles of inflation expectations) decreased at all horizons.
• Median one-year-ahead earnings growth expectations fell by 0.2 percentage point to 2.5% in June, remaining below its 12-month trailing average of 2.8%. The series has been moving within the range between 2.5% and 3.0% since May 2021."