The Strength of the Market is: Strong
Over the past week, investors became more cautious and more concerned - stocks and commodities dropped. All eyes were on the Federal Reserve and the potential for them pulling back their economic stimulus. Without this stimulus, there is fear that the growth of the global economy might just come to a halt. Next week, investors should have a little more clarity as the central bankers gather for their annual Wyoming meeting in Jackson Hole.
Economic reports from last week came back almost all negative: •Manufacturing (New York) - worse than expectation •Manufacturing (Philadelphia) - worse than expectation •Retail Sales - worse than expectation •New Residential Construction - worse than expectation •Single-Family Home Sales - worse than expectation •Jobless Claims - better than expectation This week, investors will look for guidance from economic reports like National Activity, Existing & New Home Sales, Manufacturing, Housing, Jobless Claims and Consumer Sentiment.