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

Last week was turbulent for Wall Street as investors weighed fresh U.S. inflation data. The latest inflation numbers are being viewed as good news, which is giving investors hope for more interest rate cuts before the end of the year. Now, there are expectations that the Federal Reserve will decrease interest rates in September, November and December. Last week, the S&P 500 was down 0.8%, while the Nasdaq lost 2.1%. The Dow Jones was the outlier, being up 0.8%.

 

Economic reports from last week came back mostly negative:

•National Economic Activity (Chicago) - lower than expectation

•Manufacturing (Richmond) - lower than expectation

•Manufacturing (Kansas City) - lower than expectation

•Existing Home Sales - lower than expectation

•New Home Sales - lower than expectation

•Gross Domestic Product (2nd Quarter) - higher than expectation

•Personal Income - lower than expectation

•Consumer Sentiment - higher than expectation

•Jobless Claims - lower than expectation

 

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

 
 
 

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