The Monday Mix: June 13 – 19, 2022

hand holding a coffee cup and newspaper

Top-of-mind news as we start the week:

The Federal Reserve raised its key lending rate by 75 basis points, biggest increase since Nov. 1994, and is likely to continue raising interest rates to combat inflation.

The  S&P 500 fell into a bear market, down more than 20% from its 52-week high, which last happened in March 2020; ongoing interest rate increases by the Fed increased fears of recession.

US retail sales not-adjusted for inflation fell unexpectedly by 0.3% in May from April, mostly due to less spending on car purchases.

US homebuilder confidence fell for the 6th month in row in June to a two-year low, the lowest reading since June 2020 amid higher inflation and rising mortgage rates.

US CEO confidence about business conditions in the next 12 months from now fell again in June and is at the lowest level since 2013.