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

hyggeadvisors
Oct 5
1 min read

The Strength of the Market is: Strong

 

Stocks rose on Friday following a surprisingly weak jobs report that raised hopes that the Federal Reserve will hold interest rates steady in October. Despite Friday’s rally, stocks were mixed last week - the Dow Jones was down about 1.3%, the S&P 500 was off 0.2%, while the Nasdaq gained 0.5%. September's jobs report showed the U.S. economy added 29,000 jobs last month, with unemployment rising to 4.2%.  Oil prices dropped following a report that European countries are considering releasing their strategic fuel reserves.

 

Economic reports from last week came back mixed:

•Manufacturing (Dallas) - higher than expectation

•Single-Family Home Values - higher than expectation

•Job Openings - lower than expectation

•Consumer Confidence - lower than expectation

•Employment (Private) - higher than expectation

•Employment (Total) - lower than expectation

•Personal Income - lower than expectation

•Gross Domestic Product - higher than expectation

•Construction Spending - higher than expectation

•Vehicle Sales - lower than expectation

•Jobless Claims - lower than expectation

 

This week, investors will look for guidance from economic reports like Consumer Credit, Consumer Sentiment and Jobless Claims.

 
 
 

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