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

Friday closed out a big winning month for stocks. A strong May, where the S&P 500 added 6.2%, the Nasdaq surged 9.6%, their best months since November 2023, and the Dow Jones gained 3.9% - a large chunk of the gains followed a trade deal announcement between the U.S. and UK. Last week, trade war drama continued with a legal battle around tariffs. The Court of International Trade halted the majority of Trump's tariffs. However, an appeals court temporarily suspended the halt, allowing the tariffs to remain in place until next week. In addition, Treasury Secretary Bessent said that U.S.-China trade talks "are a bit stalled." Investors shook off trade war fears and last week, the S&P 500 jumped 1.9%, the Dow Jones rose 1.6% and the Nasdaq advanced 2%.

 

Economic reports from last week came back mostly positive:

•Consumer Confidence - higher than expectation

•Consumer Sentiment - higher than expectation

•Manufacturing (Dallas) - higher than expectation

•Gross Domestic Product - higher than expectation

•Pending Home Sales - lower than expectation

•Personal Income - higher than expectation

•Jobless Claims - higher than expectation

 

This week, investors will look for guidance from economic reports like Construction Spending, Vehicle Sales, Job Openings, Employment, Labor Productivity, Consumer Credit and Jobless Claims.

 
 
 

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