The Strength of the Market is: Strong

As the month came to an end, the odds of another Federal Reserve interest rate cut increased, giving investors a little more optimism. The expectation is now for a 0.25% interest rate cut on December 10th, which would mark the central bank’s third rate cut in a row. In November, technology and Artificial Intelligence stocks dropped - for the month, the Nasdaq fell almost 2%, ending a seven-month win streak, and the S&P 500 and Dow Jones were slightly higher for November, posting their seventh consecutive winning month.

Economic reports from last week came back mixed:

•Single-Family Home Values - lower than expectation

•Pending Home Sales - higher than expectation

•Consumer Confidence - lower than expectation

•Retail Sales - lower than expectation

•Inflation (Producer) - in-line with expectation

•Jobless Claims - lower than expectation

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