The Strength of the Market is: Strong

Stocks rose at the end of last week as technology stocks regained their footing after experiencing a recent downturn. Debt levels and high spending on artificial intelligence has become a big worry for investors. Though, as investors became less worried, the S&P 500 and Dow Jones both snapped their four-day losing streaks on Thursday and, with Friday’s gains, the S&P 500 was up 0.1% and the Nasdaq advanced 0.5% last week. However, the Dow Jones lost 0.7%.

Economic reports from last week came back mixed:

•Manufacturing (New York) - lower than expectation

•Manufacturing (Philadelphia) - lower than expectation

•Homebuilder Confidence - in-line with expectation

•Existing Home Sales - lower than expectation

•Employment (Total) - higher than expectation

•Inflation (Consumer) - lower than expectation

•Consumer Sentiment - lower than expectation

•Jobless Claims - lower than expectation

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