The Strength of the Market is: Strong
The S&P 500 is at an all-time high. The Dow Jones is at an all-time high. The Nasdaq is at all-time high. Thursday's worries of an economic slowdown, higher-than-expected jobless claims and the spread of the highly infectious delta variant of Covid-19 turned into calmness on Friday as stocks finished the week at all-time highs.
Economic reports from last week came back mostly negative: •Service Industry Growth - worse than expectation •Job Openings - worse than expectation •Jobless Claims - worse than expectation •Consumer Credit - better than expectation This week, investors will look for guidance from economic reports like Small Business Confidence, Manufacturing, Consumer Sentiment and Jobless Claims.