As investors assess the latest corporate earnings results, last week, the S&P 500 added 0.69%, while the Dow Jones gained 2.08%, including a 10-day winning streak. The Nasdaq fell 0.57%. Thus far, corporate earnings have been mixed with 75% of S&P 500 companies exceeding analyst expectations. Overall, corporate earnings might be good enough for the stock market to continue to grind higher.
Economic reports from last week came back mostly negative: •Manufacturing (New York) - higher than expectation •Manufacturing (Philadelphia) - lower than expectation •Retail Sales - lower than expectation •New Residential Construction - lower than expectation •Existing Home Sales - lower than expectation •Jobless Claims - lower than expectation This week, investors will look for guidance from economic reports like National Economic Activity, Housing, Manufacturing, Consumer Confidence & Sentiment, Personal Income and Jobless Claims.