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

hyggeadvisors
Jul 8, 20241 min read

The latest jobs report reignited hopes for interest rate cuts from the Federal Reserve, helping the S&P 500 and Nasdaq rise to new record highs on Friday. The unemployment rate increased to 4.1%, higher than economist expectations, which gives some extra hope of an interest rate cut later this year. Last week, the Nasdaq Composite advanced 3.5%, the S&P 500 gained nearly 2% and the Dow Jones added 0.7%.

 

Economic reports from last week came back mixed:

•Construction Spending - lower than expectation

•Private Employment - lower than expectation

•Total Employment - higher than expectation

•Job Openings - higher than expectation

•Jobless Claims - higher than expectation

 

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

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