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

hyggeadvisors
Oct 28, 20241 min read

The Nasdaq climbed to an all-time high on Friday, its seventh weekly gain, boosted by technology stocks - including Facebook, Amazon, Microsoft and Nvidia. Both the S&P 500 and Dow Jones snapped six-week winning streaks. Last week, the S&P 500 was down nearly 1%, the the Dow Jones was lower by 2.7% and the Nasdaq advanced nearly 0.2%.

 

Economic reports from last week came back mixed:

•Manufacturing (Richmond) - higher than expectation

•Existing Home Sales - lower than expectation

•New Home Sales - higher 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, Job Openings, Employment, Personal Income, Construction Spending and Jobless Claims.

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