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Strength of the Market
a weekly blog on what's happening in Financial Markets
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The Strength of the Market is: Strong

Stocks dropped last week, as oil prices spiked and investors reacted to a poor employment report. The impacts of the Iran war are starting to show on the global energy supply. Crude oil moved above $90 per barrel, up 35% for the week, its biggest weekly increase since 1983. President Trump stated that there won't be a deal to end the war without an unconditional surrender from Iran. In addition to fears of war, stocks dropped on the latest jobs data with the unemployment rate rising to 4.4%. Last week, the S&P 500 lost 2%, the Dow Jones dropped 3% and the Nasdaq was down 1.2%.

  

Economic reports from last week came back mixed:

•Vehicle Sales - higher than expectation

•Employment (Private) - higher than expectation

•Employment (Total) - lower than expectation

•Labor Productivity - higher than expectation

•Retail Sales - higher than expectation

•Consumer Credit - lower than expectation

•Jobless Claims - lower than expectation

 

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

 
 
 

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