The start of 2023 has defied recession predictions, with positive economic indicators suggesting a strong first half and potential continued growth.
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2023-06-28 | Sign Up | View Online | Advertise
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Market Snapshot 📷
S&P 500 4,378.41 +1.15%
Nasdaq 13,555.67 +1.65%
Dow 33,926.74/td> +0.63%
10-Year 3.768% +0.049%
Oil 67.78 -2.29%
Gold 1,923.30 -0.54%

*All data as of the previous day’s market close.

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Markets & Economy
2023 Midyear Outlook: Is the Economy Half Empty or Half Full? (4 min read)

The start of 2023 has defied recession predictions, with positive economic indicators suggesting a strong first half and potential continued growth. Inflation has moderated, with prices of common goods declining. The labor market has shown robust demand, resulting in wage growth and increased consumer spending. Americans are also spending more on goods and services, contributing to economic growth. This article written by a financial advisor discusses why the US economy will likely stay positive for the rest of the year despite recession concerns.
China’s premier strikes bullish tone on economic growth despite widespread concerns (4 min read)

China's Premier Li Qiang expressed optimism about the country's economic growth despite a disappointing recovery so far this year. He affirmed confidence in China achieving the annual growth target of around 5% and promised additional measures to support growth. He also warned that governments' attempt to de-risk from China would only serve to fragment the global economy and heighten the risk of conflict. Li’s speech came amid China’s mounting economic headwinds and declining investor sentiment.
Business & Stocks
Lordstown Motors files for bankruptcy, sues Foxconn over $170 million funding deal (2 min read)

Lordstown Motors, a struggling electric-truck maker, has filed for bankruptcy and intends to sell itself due to a dispute over promised investments by Foxconn. The company’s financial troubles began after Foxconn failed to make an investment payment, citing a breach in the deal. For that reason, Lordstown accused Foxconn of fraud for not fulfilling an agreement to invest up to $170 million. In response, Foxconn suspended talks and reserved the right to take legal action, claiming Lordstown misled the public. Lordstown’s stock plunged over 60% following the news.
Volvo just became the latest EV maker to move to Tesla’s charging standard (2 min read)

Volvo has signed a deal with Tesla that will allow its EVs to charge at roughly 12,000 Tesla charging stations in North America starting next year. Volvo’s EVs will be equipped with Tesla-designed plugs, called the North American Charging Standard (NACS), starting in 2025. This follows similar deals made recently by Ford, General Motors, and Rivian. The move also makes Volvo the first European EV maker to formally commit to the NACS charging standard for its electric vehicles sold in North America.
Funds & ETFs
Top Emerging Market Bond ETFs for Advisors and Investors (3 min read)

Emerging markets are an attractive option for investors looking to diversify their portfolios as they offer the potential of high returns and lower correlation with US equities. Emerging market bond ETFs are a great way to gain exposure since they avoid concentration risk and tend to be more liquid than mutual funds. This article examines the top-performing EM bond ETFs over the past year, which include ELD, FEMB, EMLC, EBND, and LEMB that have surged in the range of 9% to 14%.
Wall Street Jumps on the AI Trend With ETFs, but Should You Join In? (4 min read)

While AI has become a rising trend with stellar performance, history also shows that in the early days of any new technology, many companies compete for dominance, but only a few emerge as winners. AI ETFs offer a diversified approach that can take some of this risk off the table, but not all of them have the same portfolio composition. Some AI ETFs may have broader mandates and do not provide the desired exposure to AI as a result. Investors should be cautious and thoroughly evaluate their options before investing in AI ETFs.
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