Flash Report July 2018

Stock returns surged in July, bolstered by strong economic growth, continuing corporate profits, positive earnings surprises, and reduced transatlantic trade tensions. US economic growth ccelerated at its fastest pace in nearly four years (+4.1%) as the effects of tax cuts and deregulation supported sharp rises in consumer and business spending. Investors responded favorably to unexpected discussions between the US and Europe aimed at eliminating tariffs; nonetheless, tensions between Washington and Beijing increased as China refused to approve the merger of Qualcomm and NXP Semiconductors.

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