Weekly Market Notes - July 2, 2018

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Includes: BIBL, BIL, CHGX, CLTL, CRF, DDM, DFVL, DFVS, DIA, DLBL-OLD, DLBS, DMRL, DOG, DTUL, DTUS, DTYL, DTYS, DUSA, DXD, EDOW, EDV, EEH, EGF, EPS, EQL, EQWS, ESGL, FEX, FIBR, FWDD, GBIL, GOVT, GSEW, GSY, HUSV, HYDD, IEF, IEI, ITE, IVV, IWL, IWM, JHML, JKD, OMFS, OTPIX, PLW, PMOM, PPLC, PSQ, PST, QLD, QQEW, QQQ, QQQE, QQXT, RINF, RISE, RSP, RVRS, RWM, RYARX, RYRSX, SCAP, SCHO, SCHR, SCHX, SDOW, SDS, SFLA, SH, SHV, SHY, SMLL, SPDN, SPLX, SPSM, SPTL, SPTS, SPUU, SPXE, SPXL, SPXN, SPXS, SPXT, SPXV, SPY, SQQQ, SRTY, SSO, SYE, TAPR, TBF, TBT, TBX, TLH, TLT, TMF, TMV, TNA, TQQQ, TTT, TUZ, TWM, TYBS, TYD, TYNS, TYO, TZA, UBT, UDN, UDOW, UDPIX, UPRO, URTY, USA, USDU, USMC, UST, USTB, UUP, UWM, VFINX, VGIT, VGLT, VGSH, VOO, VTWO, VUSTX, VV, ZF, ZROZ
by: Robert W. Baird & Co.
Summary

First-quarter real GDP revised down to 2.00%; June employment report expected to show 185,000 jobs with the focus on wage growth.

The Fed is widely anticipated to raise the Fed funds level for the eighth time since 2015 in September.

The Fed funds futures market gives the potential for two more rate hikes in 2018 at 47% from 44%.