Stocks hit fresh all-time highs on Friday, again. Even so, the economy is showing signs of low performance. We are seeing higher prices and, with the reinstatement of mask mandates and other health restrictions, small businesses and consumers have a very poor view on the economy. Unfortunately, the uptick in the delta variant cases have diminished hopes that this pandemic will be ending soon.
Economic reports from last week came back mixed:
•Job Openings - better than expectation
•Labor Productivity/Costs - worse than expectation
•Small Business Optimism - worse than expectation
•Jobless Claims - better than expectation
•Consumer Sentiment - worse than expectation
This week, investors will look for guidance from economic reports like Manufacturing, Housing and Jobless Claims.