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Weekly Market Comment – July 22nd 2019

Markets drifted lower as Q2 results season kicked off. Energy stocks declined the most as crude supplies fell less than expected. Even though earnings season is in full swing, many investors remain focused on monetary policy issues, specifically if the Federal Reserve will cut interest rates by 25 or 50 basis point and if the ECB will restart Quantitative Easing. Volumes were light. In the US, Monday had the second-lowest volumes for a full trading day so far in 2019.  


-Derek Heffernan