The Strength of the Market is: Strong
The first week of June was positive for investors. Job growth and increased economic confidence inched stocks back toward all-time highs. Now, investor focus shifts to the massive infrastructure package designed to grow the economy, tackle the climate crisis and create new jobs - which is still in need of major compromise between the Senate and the White House.
Economic reports from last week came back mixed:
•Construction Spending - worse than expectation
•Manufacturing (Dallas) - better than expectation
•Employment Report - better than expectation •Employment Situation - worse than expectation •Jobless Claims - better than expectation •Vehicle Sales - worse than expectation
This week, investors will look for guidance from economic reports like Consumer Credit, Small Business Optimism, Job Openings, Jobless Claims and Consumer Sentiment.