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

The Federal Reserve’s decision to cut interest rates brought another winning week for the stock market. Last week, the S&P 500 was up 1.2%, the Dow Jones gained 1% and the Nasdaq and Russell 2000 each added 2.2%. The Russell 2000, which is made up of stocks of the smallest 2,000 companies in the US, notched its seventh straight weekly advance. The stock market got a boost after the Federal Reserve lowered interest rates by 0.25%, the first interest rate reduction since December - two more interest rate cuts are expected by the end of 2025. With stocks at all-time highest, investors might expect a period of consolidation or choppiness in the near term.

 

Economic reports from last week came back mixed:

•Manufacturing (New York) - lower than expectation

•Manufacturing (Philadelphia) - higher than expectation

•Retail Sales - higher than expectation

•Homebuilder Sentiment - lower than expectation

•New Residential Construction - lower than expectation

•Jobless Claims - lower than expectation

 

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

 
 
 

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