The Strength of the Market is: Strong

Stocks rose and oil prices dropped, last week. Boosted by technology shares, stocks closed out May with a winning month - the S&P 500, Dow Jones and Nasdaq all hitting fresh all-time highs. For the month, the Nasdaq was the star, up roughly 8% for the month, the S&P 500 was up 5% and the Dow Jones advanced around 2%. Last week, stocks were helped after the U.S. and Iran agreed on a 60-day memorandum of understanding to extend the ceasefire. Although, President Trump has yet to give the agreement his final approval.

Economic reports from last week came back mixed:

•National Economic Activity - higher than expectation

•Single-Family Home Values - in-line with expectation

•New Home Sales - lower than expectation

•Consumer Confidence - higher than expectation

•Manufacturing (Dallas) - higher than expectation

•Manufacturing (Richmond) - higher than expectation

•Gross Domestic Product - lower than expectation

•Personal Income - lower than expectation

•Jobless Claims - higher than expectation

This week, investors will look for guidance from economic reports like Construction Spending, Job Openings, Employment, Labor Productivity, Consumer Credit and Jobless Claims.