The Markets (as of market close July 30, 2021)
Stocks closed generally higher in July, despite a downturn at the end of the month. Second-quarter
corporate earnings data was generally strong, although some megacap companies posted
weaker-than-expected earnings results. Economic news was mostly favorable. The economy expanded at
an annualized rate of 6.5%, 850,000 new jobs were added, while the number of new unemployment claims
declined. Industrial production rose, as did new orders for durable goods.