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

hyggeadvisors
3 days ago
1 min read

Last week, investors tried to look past elevated Treasury yields, high oil prices and a declining artificial intelligence trade. For the week, the S&P 500, Dow Jones and Nasdaq were all up around 1%. At the end of the week, President Trump said that Russian President Vladimir Putin agreed to supply diesel to both the U.S. and global markets. Oil prices were down slightly after the announcement in after hours trading. Technology stocks, especially those related to Artificial Intelligence, dropped after OpenAI told investors that it saw $50 billion in annualized revenue at the end of September, instead of the previous reported $68 billion. This week, corporate earnings season gets into full swing with banks, like Citi and Wells Fargo, set to report, as well as other big names including Johnson & Johnson and UnitedHealth.

 

Economic reports from last week came back mixed:

•Consumer Credit - lower than expectation

•Consumer Sentiment - lower than expectation

•Jobless Claims - lower than expectation

 

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

 
 
 

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