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Market Brief – Friday 7/22/22

Stocks rose slightly in overnight trading and Treasury yields tumbled in overnight trading.

The preliminary Market Manufacturing PMI expanded at a slightly slower rate in July to 52.3 from 52.7 last month. The preliminary Market Services PMI expanded at a slightly slower rate in July to 47.0 from 52.7 last month.

The S&P Global Composite PMI entered contraction in July to 47.5 from 52.3 last month.

Stocks and Treasury yields closed sharply lower as liquidity disappeared from the markets today.