The Strength of the Market is: Strong

Last week, all major stock indexes posted a positive week - the Dow Jones squeezed out roughly a 0.4% gain, breaking a three-week losing streak, the S&P 500 advanced 0.7% and the Nasdaq finished the week up nearly 0.8%. In December, with the help of Tesla, Google and Apple, the Nasdaq is on pace for a 2.6% advance. Although, the S&P 500 is down 1% on the month and the Dow Jones is on pace for its worst month since April, with a roughly 4.3% decline. Investors remain hopeful that stocks will rise into the new year.

Economic reports from last week came back mixed:

•Manufacturing (Richmond) - lower than expectation

•New Home Sales - in-line with expectation

•Jobless Claims - lower than expectation

In a holiday-shortened week, investors will look for guidance from economic reports like Housing, Manufacturing, Construction Spending, Vehicle Sales and Jobless Claims.