STARTRADER Monday’s Market Update 07-08-2023

The largest American bank, JPMorgan, has abandoned its predictions of a U.S. economic recession, aligning with Wall Street analysts who no longer consider a recession to be inevitable. The bank now expects the U.S. economy to grow by approximately 2.5% in the third quarter.

On the other hand, according to the research institute Renaissance Macro Research, the U.S. government could be sinking into debt in the coming decades, which could lead to a catastrophe for the markets and the economy.

Last week, gold prices increased on Friday following a slightly weaker-than-expected U.S. job report, which caused the dollar and Treasury bond yields to go down.