The 52nd week of the year averages a 0.5% gain from the S&P 500 back to 1900 and the VIX averages a drop to five month lows (‘summer doldrums) but there is a chance of for different outcomes
Anticipation for Thursday’s CPI release is likely to take over the market’s focus, but that doesn’t preclude volatility from popping up…just look at the crypto markets after the FTX run
Though Facebook would register just as disappointing an earnings result as Google, the two companies had a very different impact on the Nasdaq – but neither can compete with Apple
Setting aside the abstract concerns around recession risks, there remains a distinct systemic pressure in FX pressure via USDJPY and the docket offers accelerating event risk: BOC, ECB and US GDP