After a few weeks of declining stocks, Monday started off the week quite differently. Stocks gained with investors staying optimistic on the economic recovery - the vaccine roll-out continues, interest rates started to level off and, now, there are expectations of up-to an additional $3 Trillion getting injected into the economy - this time to improve the country's infrastructure, fight climate change and reduce economic inequities.
Economic reports from last week came back mixed:
•Manufacturing (New York) - better than expectation •Manufacturing (Philadelphia) - better than expectation •Retail Sales - worse than expectation •Housing - worse than expectation •Jobless Claims - worse than expectation
This week, investors will look for guidance from economic reports like National Activity, Existing Home Sales, New Home Sales, Manufacturing, Jobless Claims and Consumer Sentiment.