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

hyggeadvisors
Jan 29, 20241 min read

Last week, stocks were up - the S&P 500 and the Nasdaq Composite were each up more than 1% each, while the Dow Jones gained 0.7%. The S&P 500 has closed at a record high for five straight trading days, the longest streak of its kind since November 2021. The latest economic data added to a positive picture of the economy - good inflation and strong GDP data bolstered investors’ hopes that the economy has avoided a deep recession.

 

Economic reports from last week came back mostly positive:

•Gross Domestic Product - higher than expectation

•New Home Sale - higher than expectation

•Pending Home Sales - higher than expectation

•Personal Income - in-line with expectation

•Jobless Claims - higher than expectation

 

This week, investors will look for guidance from economic reports like Manufacturing, Housing, Consumer Confidence & Sentiment, Job Openings, Employment, Labor Productivity, Construction Spending, Vehicle Sales and Jobless Claims.

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