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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 Nasdaq, last week, clinched their best week since November. The S&P 500 popped 2.7%, snapping a three-week losing streak, while the Nasdaq gained 4.2%, snapping a four-week losing streak. The Dow edged up 0.7%. Stocks got a boost from Google and Microsoft, both showed impressive corporate earnings results. Though, the latest inflation data is suggesting slowing growth and higher-than-expected inflation. This week, the busy corporate earnings season continues, headlined by Apple and Amazon. In addition, the Federal Reserve’s next interest rate decision is due out Wednesday afternoon.

 

Economic reports from last week came back mixed:

•New Home Sales - higher than expectation

•Pending Home Sales - higher than expectation

•Gross Domestic Product - lower than expectation

•Consumer Sentiment - lower than expectation

•Personal Income - in-line with expectation

•Jobless Claims - lower than expectation

 

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

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