The Nasdaq ($NASX) remains near 52-week highs, up 31.77% year-to-date, which is its best annual first half in the last four decades. Meanwhile, the S&P 500 ($SPX) had its best monthly performance since October 2022, with the Dow ($DOWI) having its best since November.
However, concerns over a mild recession or even an economic meltdown persist around the world. There are a variety of reasons for this concern, including that the two-year to 10-year yield curve is now at its deepest inversion since 1981. And although Americans didn't see a rate hike in June, the Federal Reserve was still clear there could be one again in July and likely a another one toward the end of the year.
