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

Following a 19% loss in 2022, the S&P 500 roared back last year, posting a 24% gain as the economy sidestepped a recession and inflation reduced enough for the Federal Reserve to pause its interest rate hikes. And, on Friday, the S&P 500 closed at an all-time high. Now, the question is can the stock market maintain its growth momentum in 2024?

 

Economic reports from last week came back mixed:

•Manufacturing (New York) - lower than expectation

•Manufacturing (Philadelphia) - lower than expectation

•Retail Sales - higher than expectation

•Consumer Sentiment - higher than expectation

•Existing Home Sales - lower than expectation

•New Residential Construction - higher than expectation

•Jobless Claims - lower than expectation

 

This week, investors will look for guidance from economic reports like Manufacturing, Personal Income, Housing and Jobless Claims.

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