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

The Strength of the Market is: Strong

 

Stocks closed out last week in positive territory - the S&P 500 gained 0.9%, its 11th winning week in 12, the Dow Jones advanced 0.7% and the Nasdaq jumped 2.4%. On Wednesday, the Federal Reserve indicated the possibility of an interest rate increase this year, raising worries about interest rate policy going forward. New Federal Reserve Chairman, Kevin Warsh, repeatedly stated, in his first press conference, that the goal is achieving price stability.

  

Economic reports from last week came back mixed:

•Manufacturing (New York) - lower than expectation

•Manufacturing (Philadelphia) - higher than expectation

•Homebuilder Sentiment - lower than expectation

•New Residential Construction - lower than expectation

•Pending Home Sales - higher than expectation

•Retail Sales - higher than expectation

•Jobless Claims - higher than expectation

 

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

 
 
 

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