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

The S&P 500 dropped 1.4% last week, while the Nasdaq lost 2%, both snapping three-week winning streaks. The Dow Jones slid 0.9%, for back-to-back weekly losses. Stocks dropped as interest rates on Treasury Bonds increased due to rising fears on inflation and high national debt levels. Interest rates on some government bonds are at their highest levels in almost 20 years. If Treasury rates continue to rise and tensions in the Middle East persist, the stock market may slide further. This week, investors will be watching Federal Reserve Chairman, Kevin Warsh, as he speaks at the Jackson Hole Economic Policy Symposium, for clarity on interest rates.

  

Economic reports from last week came back mixed:

•Manufacturing (New York) - higher than expectation

•Manufacturing (Philadelphia) - higher than expectation

•Homebuilder Sentiment - higher than expectation

•New Residential Construction - lower than expectation

•Pending Home Sales - lower than expectation

•Jobless Claims - lower than expectation

 

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

 
 
 

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