Evening Market Recap - Tuesday, 16th July

US equities were higher in Tuesday trading, ending near best levels. Tuesday saw an extension of recent rotation out of tech and into value/cyclical/small-caps. Analysts optimistic on durability of broadening given factors including soft-landing support, disinflation traction, elevated odds of GOP sweep in November, and expectations around Fed easing. June retail sales flat m/m, better than consensus for a monthly decline, while May revised higher. Auto sales weak as expected on cyberattack impact.