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

To end the week, the Dow Jones hit a new all-time high. Federal Reserve Chair Jerome Powell signaled that the central bank could lower interest rates next month. After Powell's comments, technology stocks like Nvidia, Facebook, Google, Amazon and Tesla all jumped higher. Last week, the Dow Jones advanced 1.5% and the S&P 500 gained 0.3%. The Nasdaq was down 0.6%.

 

Economic reports from last week came back mixed:

•Homebuilder Confidence - lower than expectation

•New Residential Construction - higher than expectation

•Existing Home Sales - higher than expectation

•Manufacturing (Philadelphia) - lower than expectation

•Jobless Claims - higher than expectation

 

This week, investors will look for guidance from economic reports like Housing, Manufacturing, Consumer Confidence & Sentiment, Gross Domestic Product, Personal Income and Jobless Claims.

 
 
 

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