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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

 

Investors continue to keep a close eye on the latest developments regarding the Middle East conflict. On Friday, three Pakistani sources reported that Pakistan is considering a path toward establishing new peace negotiations between the US and Iran, with the push being initiated by China. Earlier in the week, President Donald Trump said he will soon make a decision on whether to launch a massive attack on Iran. The price of a barrel oil was higher last week (Brent Crude at over $95 and West Texas Intermediate at over $89). US military forces have attacked Iran for 13 consecutive nights. Last week, the S&P 500 was down 0.6% and the Nasdaq lost 2.1%, both booking back-to-back weekly losses. The Dow Jones declined by 0.4% last week, its third straight losing week.

  

Economic reports from last week came back mixed:

•New Home Sales - higher than expectation

•Manufacturing (Kansas City) - lower than expectation

•Jobless Claims - lower than expectation

 

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

 
 
 

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