The Strength of the Market is: Strong
Investors are looking past their earlier jitters about the spread of the omicron Covid variant. New studies suggesting that omicron has a lower risk of hospitalization compared to other variants, along with new antiviral pills authorized by the FDA, helped the S&P 500 close at a record high last week. Moving into 2022, high and persistent inflation will be a top priority for investors and consumers alike.
Economic reports from last week came back mixed: •Consumer Confidence - better than expectation •Consumer Sentiment - better than expectation •Existing Home Sales - worse than expectation •New Home Sales - worse than expectation •Jobless Claims - in-line with expectation This week, investors will look for guidance from economic reports like Manufacturing, Home Values, Pending Home Sales and Jobless Claims.