The Strength of the Market is: Strong

Last week ended with a strong week, and month, for the stock market. The S&P 500 gained 0.7% last week, while the Nasdaq climbed 2.2% and the Dow Jones added 0.8%. October saw the S&P 500 up 2.3%, the Nasdaq jumped 4.7% and the Dow Jones advanced 2.5%. The Dow Jones posted its sixth positive month in a row for the first time since 2018.

Economic reports from last week came back mixed:

•Consumer Confidence - higher than expectation

•Pending Home Sales - lower than expectation

•Gross Domestic Product - unreported*

•Personal Income - unreported*

•Consumer Spending - unreported*

•Jobless Claims - unreported*

*unreported due to government shutdown

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