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

hyggeadvisors
May 6, 20241 min read

Stocks jumped sharply Friday after a softer-than-expected jobs report, which boosted hopes that the Federal Reserve could start cutting interest rates soon. In addition, strong corporate earnings contributed to last week's gains - especially, Apple, which advanced 6% after beating it's Wall Street expectations.

 

Economic reports from last week came back mixed:

•Manufacturing (Dallas) - lower than expectation

•Single-Family Home Values - higher than expectation

•Employer Labor Costs - higher than expectation

•Labor Productivity - lower than expectation

•Private Employment - higher than expectation

•Total Employment - lower than expectation

•Construction Spending - lower than expectation

•Job Openings - lower than expectation

•Vehicle Sales - in-line with expectation

•Jobless Claims - lower than expectation

 

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

 

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