Week of 06/19-06/23 Stocks finish lower, Recession fears are back

Market indexes finished lower on Friday, breaking the recent winning steak that stocks had for the previous weeks. This comes with over 400 stocks trading on the negative territory and technology leading the downturn. Investors are digesting this week's Federal Reserve comments to Congress of potential future rate hikes, meaning the economy is not out of danger from a recession yet. Inflation has shown signs of slowing down through economic data in the last month, but not enough to bring confidence to investors for the end of the year. In perspective, we are still far from the top the market made during the Covid-19 surge and it has been two years ever since. Next week will provide a glance at consumer confidence as Nike, Carnival Cruises, Walgreens, and many others report earnings.