This week's key word is Optimism. Investors are very optimistic. Optimistic on the economic recovery, optimistic on the vaccine roll-out and optimistic on the potential $1.9 Trillion stimulus package. All this optimism has resulted in 6 straight days of stock market gains - with last week having its best performing week since November.
Economic reports from last week came back mostly positive:
•Manufacturing - in-line with expectation
•Construction Spending - better than expectation
•Vehicle Sales - better than expectation
•Employment - better than expectation
•Jobless Claims - better than expectation
•Consumer Credit - worse than expectation
This week, Small Business Optimism, Jobless Claims and Consumer Sentiment are the main reports that investors will be looking at for guidance on the economy and markets.