After an expectation-defying jobs report, investors gained confidence around the health of the economy. The S&P 500 finished up 0.22% last week, while the Dow Jones inched higher by 0.09% and the Nasdaq added 0.1%. One mounting concern for investors is the conflict in the Middle East, especially after Iran launched a missile attack on Israel, which increased oil prices 9% last week alone. Even with the geopolitical concerns in the Middle East, Wall Street seems very happy with the U.S. economy's resiliency and the strong 4.1% unemployment rate.
Economic reports from last week came back mostly positive:
•Manufacturing (Dallas) - lower than expectation
•Construction Spending - higher than expectation
•Job Openings - higher than expectation
•Employment (Private) - higher than expectation
•Employment (Total) - higher than expectation
•Jobless Claims - in-line with 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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