Last week was volatile for financial markets. Stocks fell on Monday after President Trump's announcement of 10% tariffs on China. He also proposed, then later paused, 25% tariffs on Canada and Mexico. Stocks then gained for three-straight days on the tariff reprieve before falling again on Friday from mixed news on inflation. The economy still seems to be strong as the unemployment rate fell to 4% from 4.1% and the average hourly earnings for January were higher than expected. Though, poor growth numbers from big technology company's like Amazon and Google could be a sign of upcoming short-term disappointment and volatility. For the week, stocks were mostly negative.
Economic reports from last week came back mostly negative:
•Construction Spending - higher than expectation
•Vehicle Sales - lower than expectation
•Job Openings - lower than expectation
•Employment (Private) - higher than expectation
•Employment (Total) - lower than expectation
•Labor Productivity - lower than expectation
•Consumer Sentiment - lower than expectation
•Consumer Credit - higher than expectation
•Jobless Claims - higher than expectation
This week, investors will look for guidance from economic reports like Small Business Optimism, Inflation, Retail Sales and Jobless Claims.
Comments