The View from 5th Avenue

The View from 5th Avenue – 17 July 2023

Today was the great wait as markets head into a busier earnings season. With the Fed in its quiet period, very little economic data, and no earnings, volume in the US fell to its lowest level in three weeks. But the path of least resistance is higher currently, and traders kept to that script. While the Russell 2000 (RTY +1.04%) outpaced the S&P 500 and Nasdaq, all three indexes closed with gains. The RTY has been trying to close the ytd performance gap versus the bigger two indexes, but that i…

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