Wall Street was volatile last week with pressure from a spike in oil prices and rising inflation expectations - the S&P 500 was up 0.45% and Dow Jones advanced 0.79%, while the Nasdaq was down 0.18%. Investors are fearful that the Israel-Hamas war could escalate. Though, interest rates are still the main worry, especially with inflation inching higher in recent months.
Economic reports from last week came back mostly negative:
•Small Business Optimism - lower than expectation
•Consumer Sentiment - lower than expectation
•Jobless Claims - lower than expectation
This week, investors will look for guidance from economic reports like Manufacturing, Retail Sales, Housing and Jobless Claims.