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

Recession fears were eased last week with better-than-expected jobs numbers for April, which lifted the S&P 500 to its longest winning streak in over two decades. Stocks have mostly recovered its losses since April 2, when President Donald Trump announced his reciprocal tariffs. Investors have become upbeat after China said that it is evaluating the possibility of starting trade negotiations with the U.S. Stocks posted their second positive week in a row - the S&P 500 added 2.9%, still more than 7% below its February high, the Dow Jones advanced 3% and the Nasdaq added 3.4%.

 

Economic reports from last week came back mixed:

•Single-Family Home Values - lower than expectation

•Pending Home Sales - higher than expectation

•Consumer Confidence - lower than expectation

•Job Openings - lower than expectation

•Gross Domestic Product - lower than expectation

•Employment (Private) - lower than expectation

•Employment (Total) - higher than expectation

•Personal Income - higher than expectation

•Construction Spending - lower than expectation

•Vehicle Sales - higher than expectation

•Jobless Claims - higher than expectation

 

This week, investors will look for guidance from economic reports like Consumer Credit, Labor Productivity and Jobless Claims.

 
 
 

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