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

hyggeadvisors
Sep 14
1 min read

The Strength of the Market is: Strong

 

Stocks were down 4 out of 5 days last week as investors looked at the latest inflation readings, which will probably have the Federal Reserve raising interest rates by 0.25% on Wednesday. Last week, the Dow Jones lost 1.6%, the S&P 500 was down 0.8% and the Nasdaq dropped 0.7%. Oil prices experienced sharp gains due to escalating tensions in the Middle East with West Texas Intermediate Oil prices at $100 per barrel and Brent Oil at almost $105 per barrel, both up about 10% last week.

  

Economic reports from last week came back mixed:

•Small Business Optimism - lower than expectation

•Consumer Credit - higher than expectation

•Existing Home Sales - higher than expectation

•Consumer Sentiment - lower than expectation

•Inflation (Producer) - in-line with expectation

•Inflation (Consumer) - in-line with expectation

•Jobless Claims - lower than expectation

 

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

 
 
 

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