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On the SPOT blog (07/15/2022) [W..]

Updated: Aug 30, 2022

An emphatic green finish on the Wall Street today. The week still ended in red for all major US indices but today there is cause for optimism. Citigroup's quarterly result beat expectations and retail sales seemed to have grown. Both these were positive news. This would perhaps reduce the fear of recession among many investors. Add to that the fact that President Biden is in Saudi Arabia that should hopefully result in increased oil supply which would most likely help the fight against inflation. Whether Federal Reserve will raise interest rate by 0.75 or 1 is still a speculation but at least today showed some easing of inflation and recession fears. Next week's earnings should shed some more light.

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