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

Stocks registered an eighth straight winning week as Wall Street extended its year-end rally. Last week, the S&P 500 advanced by 0.8%, the Dow Jones added 0.2% and the Nasdaq jumped 1.2%. With inflation data continuing to move lower, the holiday rally looks like it will bode well for investors moving into 2024.

 

Economic reports from last week came back mixed:

•New Residential Construction - higher than expectation

•Existing Home Sales - higher than expectation

•New Home Sales - lower than expectation

•Consumer Sentiment - higher than expectation

•Personal Income - in-line with expectation

•Manufacturing (Philadelphia) - lower than expectation

•Jobless Claims - lower than expectation

 

In a holiday-shortened week, investors will look for guidance from economic reports like Housing, Manufacturing, National Economic Activity and Jobless Claims.

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