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

Last week was a losing week as investors weighed the latest comments made by President Donald Trump related to the Federal Reserve and various geopolitical risks. It was a hectic week with numerous headlines out of Washington - worries over threats to the Federal Reserve’s independence, mass unrest in Iran and new tariffs in a push to acquire Greenland. Other headlines included a trade deal with Taiwan and Trump's call for the capping of credit card interest rates. Last week, the S&P 500 fell 0.4%, the Dow Jones dropped 0.3% and the Nasdaq was down 0.7%.

 

Economic reports from last week came back mostly positive:

•Small Business Optimism - higher than expectation

•Inflation (Consumer) - in-line with expectation

•Inflation (Producer) - lower than expectation

•New Home Sales - higher than expectation

•Existing Home Sales - higher than expectation

•Manufacturing (Philadelphia) - higher than expectation

•Manufacturing (New York) - higher than expectation

•Homebuilder Confidence - lower than expectation

•Retail Sales - higher than expectation

•Jobless Claims - lower than expectation

 

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

 
 
 

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