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Strength of the Market
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hyggeadvisors

The Strength of the Market is: Strong

Last week, the S&P 500 and the Nasdaq Composite posted their strongest weeks of 2024. Technology and Computer Chip stocks helped drive the rebound rally - the S&P 500 rose 4%, the Nasdaq Composite gained 5.9% and the Dow Jones advanced 2.6%. With recent bouts of volatility, investors seem to be on guard, looking for guidance from the upcoming Federal Reserve's monetary policy announcement (Wednesday afternoon), which is anticipated to lower interest rates by either 0.25% or 0.50%.

 

Economic reports from last week came back mixed:

•Consumer Credit - higher than expectation

•Small Business Optimism - lower than expectation

•Inflation (Consumer) - in-line with expectation

•Inflation (Producer) - in-line with expectation

•Consumer Sentiment - higher than expectation

•Jobless Claims - in-line with expectation

 

This week, investors will look for guidance from economic reports like Manufacturing, Retail Sales, Housing and Jobless Claims.

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