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

Stocks tumbled at the end of last week. For the week, the S&P 500 lost more than 2%, its first negative week in the last 10 weeks, the Nasdaq Composite tumbled 4.7% and the Dow Jones was modestly lower. On Friday, technology and computer chip stocks dropped big after the latest Employment numbers showed an increase of 172,000 jobs in May, which was well above economist expectations.

 

Economic reports from last week came back mixed:

•Construction Spending - higher than expectation

•Vehicle Sales - higher than expectation

•Job Openings - higher than expectation

•Employment (Private) - higher than expectation

•Employment (Total) - higher than expectation

•Labor Productivity - lower than expectation

•Consumer Credit - higher than expectation

•Jobless Claims - higher than expectation

 

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

 
 
 

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