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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

The S&P 500 and the Nasdaq Composite have fallen for sixth straight days, notching their longest losing streak in more than a year. Geopolitical conflicts and high inflation have been the primary reasons for the downtrend. With inflation being more problematic than expected, the S&P 500 has been down three straight weeks, while the Nasdaq has been down four straight weeks.

 

Economic reports from last week came back mixed:

•Retail Sales - higher than expectation

•Manufacturing (New York) - lower than expectation

•Manufacturing (Philadelphia) - higher than expectation

•New Residential Construction - lower than expectation

•Existing Home Sales - higher than expectation

•Jobless Claims - lower than expectation

 

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

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