Wall Street is set to end the month of July with strong gains, driven by better-than-expected earnings, receding inflation pressure, positive economic data, and optimism about the Federal Reserve’s monetary policy.The S&P has experienced a 3% increase, marking its fifth consecutive positive month. The Nasdaq Composite Index has gained 3.8%, while the Dow Jones posted a 13-day advance last week, matching its longest streak of gains.

Inflation in the United States has cooled down for the 12th consecutive month in June, signaling a possible end to the Fed’s interest rate hiking cycle. Strong job numbers, rising consumer spending, and robust manufacturing activity have also contributed to the market’s strength.

The second quarter GDP grew 2.4% annually, up from 2% growth in the first quarter, thanks to resilience among consumers and businesses.The Q2 earnings season has been positive, with companies beating estimates and providing strong guidance for the coming periods.

The Fed has raised interest rates for the 11th time in more than a year, signaling the possibility of further increases.

The top-performing sector ETFs in July include:
– Defiance Pure Electric Vehicle ETF, which focuses on the electric vehicle industry and has gained 53.2%.
– First Trust SkyBridge Crypto Industry & Digital Economy ETF, which provides exposure to companies driving cryptocurrency innovation and has gained 29.4%.
– SPDR S&P Oil & Gas Equipment & Services ETF, which tracks the performance of companies in the oil and gas equipment and services industry and has gained 23.4%.
– SPDR S&P Regional Banking ETF, which has benefited from rising interest rates and has gained 19.5%.
– Roundhill MEME ETF, which has gained 18.3% and focuses on meme stocks.

These ETFs have seen strong performance due to market trends and investor interest in the respective sectors.

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