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Strength of the Market
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The Strength of the Market is: Strong

hyggeadvisors
Dec 11, 20231 min read

Stocks rose to hit new highs for the year. Last week, the S&P 500 jumped 0.2% to notch six straight weeks of wins and its longest winning streak since 2019. The Dow Jones was slightly up and the Nasdaq added 0.7%. With falling inflation and high consumer confidence, it seems like the US economy is no longer on the brink of a recession.

 

Economic reports from last week came back mixed:

•Vehicle Sales - lower than expectation

•Job Openings - lower than expectation

•Private Employment - lower than expectation

•Total Employment - higher than expectation

•Labor Productivity - higher than expectation

•Consumer Credit - lower than expectation

•Consumer Sentiment - higher than expectation

•Jobless Claims - lower than expectation

 

This week, investors will look for guidance from economic reports like Small Business Optimism, Inflation, Retail Sales, Manufacturing and Jobless Claims.

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