Stocks rallied after the release of stronger-than-expected U.S. jobs numbers. Last week, the S&P 500 was up 0.48%, breaking a four-week negative streak, and the Nasdaq climbing 1.60%. Meanwhile, the Dow Jones was down 0.30%. Over the weekend, geopolitical risk emerged as, after a surprise attack, the Israeli government formally declared war on Hamas - the impact on financial markets is yet to be known.
Economic reports from last week came back mixed:
•Construction Spending - lower than expectation
•Job Openings - higher than expectation
•Private Employment - lower than expectation
•Total Employment - higher than expectation
•Consumer Credit - lower than expectation
•Jobless Claims - lower than expectation
This week, investors will look for guidance from economic reports like Small Business Optimism, Inflation, Consumer Sentiment and Jobless Claims.