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

hyggeadvisors
Oct 9, 20231 min read

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.

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