As stock markets continue to hover near all-time highs, there are now concerns over rising interest rates. Today, rates hit their highest levels since the beginning of the pandemic and have more than doubled since the Summer months. As rates rise, borrowing money becomes more expensive - hurting businesses and individuals, which typically cools down the economy - an economy that, due to the pandemic, is already not so hot.
Economic reports from last week came back mostly negative:
•Job Openings - better than expectation
•Small Business Optimism - worse than expectation
•Jobless Claims - worse than expectation
•Consumer Sentiment - worse than expectation
In a holiday-shortened week, investors will be watching a handful of economic reports like Manufacturing, Housing and Jobless Claims.