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

hyggeadvisors
Sep 21
1 min read

Stocks were mixed last week as investors attempted to navigate rising Treasury yields and higher oil prices, in addition to the Federal Reserve’s first interest rate hike in three years. The 10-year Treasury yields climbed above 5%, its highest level since 2007. U.S. crude oil finished the week mostly unchanged, staying above $100 per barrel. Last week, the Dow Jones was down 1.7%, its third straight losing week, and the S&P 500 was slightly down. The Nasdaq was up 0.7%.

 

Economic reports from last week came back mixed:

•Manufacturing (New York) - lower than expectation

•Manufacturing (Philadelphia) - higher than expectation

•Retail Sales - higher than expectation

•Homebuilder Sentiment - lower 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 Sentiment and Jobless Claims.

 
 
 

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