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

Stocks rose, last week, as SpaceX's shares opened for trading on Friday and soared by 19%. In addition, financial markets rose on hopes for the arrival of a peace deal between the US and Iran. On the news of a potential peace deal, crude oil was 3.2% lower, finishing the week at around $85.00 per barrel. On Friday, Pakistan Prime Minister Shehbaz Sharif said that the final agreed upon text of a peace deal has been reached. In addition, Iranian state media reported that the draft version of the deal includes commitments from the US to lift oil sanctions and commitments from Iran to reopen the Strait of Hormuz.

 

Economic reports from last week came back mixed:

•Small Business Optimism - lower than expectation

•Existing Home Sales - higher than expectation

•Inflation (Consumer) - in-line with expectation

•Inflation (Producer) - higher than expectation

•Consumer Sentiment - higher than expectation

•Jobless Claims - higher than expectation

 

This week, investors will look for guidance from economic reports like Manufacturing, Housing, Retail Sales and Jobless Claims.

 
 
 

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