Stock Market Today: Stocks Stick the Landing in Successful Short Week The major indexes finished the holiday-shortened week with a flourish as a recent relief rally chalked up sizable gains across the four-day period. Federal Reserve Bank of St. Louis President James Bullard said Friday that "it is a little early to have this debate about recession probabilities in the U.S." Meanwhile, he continued to pound the table for continued aggressive interest-rate increases – remember, the Fed is just more than a week removed from its rate hike since 1994 – to repel rapidly rising consumer prices. SEE MORE The 15 Best Stocks to Buy for the Rest of 2022 "Bullard''s optimism is justified if inflation [does] manage to peak," says Edward Moya, senior market strategist at currency data provider OANDA. "The best-case scenario for equities is that inflation continues to show signs of peaking and the consumer remains strong." What do consumers have to say about that? Well … the University of Michigan''s Surveys of Consumers sentiment index dropped to 50.0 for June – its lowest reading since the index was established in the 1970s.