top of page
Strength of the Market
a weekly blog on what's happening in Financial Markets
Search

The Strength of the Market is: Strong

After briefly losing momentum, the stock market rally of January continued to end the week. Last week, the Nasdaq outperformed, gaining 0.55% and its third positive week in a row. The Dow Jones was lower by 2.70% and the S&P 500 was down 0.66%, both breaking two-week win streaks. All major stock averages are positive in 2023 thus far.

Economic reports from last week came back mostly positive: •Manufacturing (New York) - lower than expectation

•Manufacturing (Philadelphia) - higher than expectation

•Retail Sales - lower than expectation •Homebuilder Sentiment - higher than expectation •New Residential Construction - higher than expectation •Existing Home Sales - higher than expectation •Jobless Claims - lower than expectation This week, investors will look for guidance from economic reports like Manufacturing, Housing, Consumer Confidence, Employment, Job Openings, Vehicle Sales, Labor Productivity, Construction Spending and Jobless Claims.

Comments


bottom of page