Brad McMillan, Commonwealth’s CIO, recaps another great month for the markets and economy. In July, U.S. and developed markets were up, due to the simple fact that companies are making more money. Earnings came in much better than expected, U.S. job growth was strong, and wage growth picked up. Plus, both consumer and business confidence are on the rise. Clearly, there is positive momentum going forward. But with slow spending growth and a pullback in business investment, are there clouds on the horizon? Stay tuned to find out. Follow Brad at blog.commonwealth.com/independent-market-observer.
