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Strength of the Market
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The Strength of the Market is: Strong

hyggeadvisors
Aug 30, 20211 min read

Investors were relieved by the Federal Reserve's announcement that interest rates will not be rising any time soon. Relief turned into reward as the S&P 500 and the Nasdaq Composite finished the week at new record highs. In addition to a commitment to not raise rates, inflation - which is at its largest year-over-year increase since 1991 - is under control, according to the Chairman of The Federal Reserve, Jerome Powell.

Economic reports from last week came back mostly negative: •National Activity - better than expectation •Existing Home Sales - better than expectation •New Home Sales - worse than expectation •Manufacturing (Richmond) - worse than expectation •Manufacturing (Kansas City) - worse than expectation •Jobless Claims - worse than expectation •Consumer Sentiment - worse than expectation •Personal Income/Spending - better than expectation This week, investors will look for guidance from economic reports like Pending Home Sales, Manufacturing, Consumer Confidence, Employment, Construction Spending, Vehicle Sales and Jobless Claims.

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