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Market Brief – Tuesday 6/21/22

Stocks rallied in overnight trading as investors continue to bet on a big Bear market rally. Treasury yields also rose in overnight trading.

The Chicago Fed National Activity Index was +0.01 in May, indicating the economy is growing on trend, down from +0.40 in April.

Existing home sales fell -3.4% in May to 5.41 million units.

Stocks continued their overnight rally to close higher on the day and Treasury yields rose to close higher on the day.