From the article: "Economic data released in the past week showed a revised estimate for U.S. growth in the first quarter was higher than anticipated; new orde

From the article: "Economic data released in the past week showed a revised estimate for U.S. growth in the first quarter was higher than anticipated; new orders for manufactured durable goods were stronger than expected in May; sales of newly built homes that same month beat economists’ forecasts; consumer confidence jumped in June to a 17-month high based on a Conference Board survey; and that initial jobless claims in the week ending June 24 fell... U.S. inflation measured by the personal-consumption-expenditures price index softened to 3.8% in May on a 12-month basis, the slowest increase since April 2021, based on a government report Friday." Also, the "recession canceled" remark wasn't based on the S&P. It's from the chief global economist at Economic Outlook Group LLC -- a quote from the analysis he sent to investors Thursday. (He followed his "recession canceled" remark by citing the larger economy's "impressive performance the first three months," and drops in "virtually every inflation metric.")