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

Stocks posted big losses last week - the S&P 500 and Dow Jones each lost about 2% and the Nasdaq shed 2.7%. Although, financial markets seemed to calm at the end of the week after New York Federal Reserve President John Williams suggested that the central bank could cut interest rates yet again this year. Investors hope that easier monetary policy can revive a sluggish economy and justify high tech-stock valuations.

 

Economic reports from last week came back mostly positive:

•Manufacturing (New York) - higher than expectation

•Manufacturing (Philadelphia) - lower than expectation

•Construction Spending - higher than expectation

•Homebuilder Sentiment - higher than expectation

•Existing Home Sales - higher than expectation

•Consumer Sentiment - higher than expectation

•Employment (Total) - higher than expectation

•Jobless Claims - lower than expectation

 

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

 
 
 

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