The Strength of the Market is: Strong

Last week brought wild swings with concerns that Artificial Intelligence/Technology stocks are overvalued and increasing unease about the Federal Reserve's next interest rate decision (December 10). For the week, the Nasdaq ended down 0.5%. However, the S&P 500 gained 0.1% and the Down Jones added 0.3%. In addition, the U.S. government shutdown, which was the longest in history, ended last Wednesday after stretching on for more than six weeks.

Economic reports from last week came back mixed:

•Small Business Optimism - in-line with expectation

•Inflation (Consumer) - unreported*

•Inflation (Producer) - unreported*

•Retail Sales - unreported*

•Jobless Claims - unreported*

*unreported due to government shutdown

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