The Strength of the Market is: Strong
Coming off all-time highs, the stock market started this week by taking a breather. The pandemic situation looks to be worsening and new fears have started to emerge on the near-term economic recovery. Although, a vaccine approval and additional stimulus seems to be just around the corner. Last week, economic updates were mixed:
•Jobless Claims - better than expectation •Construction - better than expectation
•Manufacturing - in line with expectation
•Vehicle Sales - worse than expectation
•Employment Situation - worse than expectation
This week, a number of economic reports will be released including Consumer Credit, Small Business Optimism, Consumer Sentiment and Jobs - which will provide us with some updates on the current state of the economy.