The Strength of the Market is: Strong
The stock market seems to be in a cautiously optimistic state. Global stocks are still hovering close to all-time highs and are optimistic about the coronavirus vaccine roll-out. Although, investors are proceeding with caution as the economy begins to slow, local lockdowns start to sprout up (i.e. Los Angeles, London, etc.) and stimulus disagreements continue in Congress. Last week, economic reports came back mostly negative:
•Jobless Claims - worse than expectation •Consumer Credit - worse than expectation
•Small Business Optimism - worse than expectation
•Consumer Sentiment - better than expectation
This week, markets will be looking at various economic reports like Manufacturing, Jobs, Housing and Retail Sales for guidance.