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

The Strength of the Market is: Strong

 

Stocks mostly pulled back last week as investors continued to exit technology stocks, mainly cautious with Artificial Intelligence stock, and moved into value areas of the market. In addition, on Wednesday, the Federal Reserve cut interest rates for the third time this year. On Thursday, the S&P 500 notched a new closing high before dropping to end the week. Last week, the S&P 500 lost nearly 1% and the Nasdaq was down almost 2%. Although, the Dow Jones gained roughly 1% and the Russell 2000 was up more than 1%, hitting an all-time high on Thursday.

 

Economic reports from last week came back mixed:

•Small Business Optimism - higher than expectation

•Job Openings - higher than expectation

•Jobless Claims - higher than expectation

 

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

 
 
 

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