July turned out to be the best month for Wall Street investors since November 2020. Despite the turbulent macro environment, the S&P 500 gained 9.1% on the backs of better-than-expected corporate earnings reports.
The Fed has lifted its benchmark interest rate by 225 basis points so far this year to control the four-decade high inflation. However, Wall Street found relief in cooling down inflation, raising the assumption that rate hikes might ease.
