The Strength of the Market is: Strong

Last week brought a new record to the S&P 500. Although, new inflation data showed rising prices was still a risk heading into September. Stocks closed out August with solid gains. For the month, the Dow Jones was up more than 3%, the S&P 500 gained nearly 2% and the Nasdaq increased by more than 1%.

Economic reports from last week came back mixed:

•New Home Sales - higher than expectation

•Pending Home Sales - lower than expectation

•Single-Family Home Values - higher than expectation

•Consumer Confidence - higher than expectation

•Consumer Sentiment - lower than expectation

•Gross Domestic Product - higher than expectation

•Personal Income - in-line with expectation

•Jobless Claims - lower than expectation

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