The July Consumer Price Index (CPI) was 8.5% year over year, which was lower than the 8.7% that was expected. This is an indication that inflation has peaked because the June reading was 9.1%. The number one reason the stock market experienced the worst first half since 1970 is because of inflation. This is very good for the market and now investors will breathe a sigh of relief, for now. Also, the bond market reacted well to this news, too. In this episode, I added context to the inflation data and how the stock market may move in the short term.

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