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

Stocks rose last week after the Supreme Court ruled against President Trump's tariffs. The ruling may provide relief for companies burdened by higher costs from the duties. The Supreme Court struck down most of Trump’s sweeping tariff policy, ruling that that law “does not authorize the President to impose tariffs.” In response, President Trump announced he will impose a new 10% global tariff. In addition to the tariff news, the latest economic news was released - Gross Domestic Product was much lower than Wall Street expectations and inflation data held steady in December. Last week, the Dow Jones rose 0.3%, the S&P 500 gained 1.1% and the Nasdaq climbed 1.5%.

 

Economic reports from last week came back mixed:

•Manufacturing (New York) - higher than expectation

•Manufacturing (Philadelphia) - higher than expectation

•Homebuilder Confidence - lower than expectation

•New Residential Construction - higher than expectation

•Pending Home Sales - lower than expectation

•New Home Sales - higher than expectation

•Personal Income - higher than expectation

•Gross Domestic Product - 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, Construction Spending and Jobless Claims.

 
 
 

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