The Strength of the Market is: Strong
The S&P 500 finished last week by hitting another record high. Better-than-expected news of jobs and an accelerating economy helped the current market rally. Stocks, which have performed positive in seven consecutive trading days, are enjoying their longest winning streak since August.
Economic reports from last week came back mostly positive: •Manufacturing (Dallas) - worse than expectation •House Prices - better than expectation •Pending Home Sales - better than expectation •Consumer Confidence - better than expectation •Employment - better than expectation •Jobless Claims - better than expectation •Construction Spending - worse than expectation •Vehicle Sales - worse than expectation In a Holiday-shortened week, investors will look for guidance from economic reports like Service Industry Growth, Job Openings and Jobless Claims.