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Strength of the Market
a weekly blog on what's happening in Financial Markets
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The Strength of the Market is: Strong

Last week, the rise in technology stocks and a better-than-expected jobs report brought stocks to fresh record highs. Even with Federal Reserve's Jerome Powell stating that the chances of a interest rate cut in March is unlikely, the S&P 500 added 1.4%, the Nasdaq Composite gained 1.1% and the Dow rose 1.4% - the fourth week in a row of gains for all three major stock benchmarks.

 

Economic reports from last week came back mixed:

•Job Openings - higher than expectation

•Consumer Confidence - lower than expectation

•Consumer Sentiment - lower than expectation

•Labor Productivity - higher than expectation

•Construction Spending - higher than expectation

•Private Employment - lower than expectation

•Total Employment - higher than expectation

•Jobless Claims - higher than expectation

 

This week, investors will look for guidance from economic reports like Consumer Credit and Jobless Claims.

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