With economic uncertainty looming, the Dow Jones Industrial Average declined for five straight days. Currently, investors have two main worries: 1.) persistent Covid cases slowing down the economy and 2.) high inflation. Businesses are, also, worried as their costs rose 8.3% in August, the biggest annual cost increase since 2010. With all these worries, major central banks around the world are expected to keep financially supporting the economy - a positive sign for the stock market.
Economic reports from last week came back mostly positive: •Job Openings - better than expectation •Consumer Credit - worse than expectation •Jobless Claims - better than expectation
This week, investors will look for guidance from economic reports like Small Business Optimism, Manufacturing, Jobless Claims and Consumer Sentiment.