MARKET RECAP

• Markets were on fire, US stocks +3.9%, NASDAQ +5.3%, VXUS +3.51%, and bonds +0.51%.
• Fears of a recession were declining this week. Goldman Sachs cuts recession risk in the next year to 20% from 25%. Retail sales were up a strong 1%, jobless claims were falling, and economic data such as restaurant bookings, hotel occupancy, and air travel appeared fine.
• But homebuilders started on fewer projects than what was projected.
• Inflation news was good; wholesale prices were lower than expected, and the CPI, up 2.9%, showed inflation is slowing.

SCOREBOARD