The Strength of the Market is: Strong
Stocks are feeling the tension from the fight for more stimulus. Today, negative news on the progress of the latest stimulus package sent stocks lower. Although, more recent reports, after the market closed, showed that progress has been made today and negotiations will continue tomorrow, with hopes of settling on a final agreement. Economically, last week, Retail Sales, Consumer Sentiment & Small Business Optimism all exceeded expectations. Jobless Claims did not - rising higher than expected for the second straight week. In the week ahead, along with keeping a close eye on stimulus negotiations, investors will be watching reports of Corporate Earnings (Procter & Gamble, Netflix and IBM), as well as the latest on Housing & Mortgage and Jobless numbers.
As stocks have looked more uncertain over the last few months - leading up to the elections, our market strength indicators on Global Stocks are still showing Strength.