Stocks registered their best week in 2023 as investors grew hopeful that the Federal Reserve’s rate-hiking campaign is over. Last week, the Dow Jones was up 5.07%, the S&P 500 was higher by 5.85% and the Nasdaq gained 6.61%.
Economic reports from last week came back mixed:
•Private Employment - lower than expectation
•Total Employment - lower than expectation
•Job Openings - higher than expectation
•Construction Spending - in-line with expectation
•Vehicle Sales - higher than expectation
•Labor Productivity - higher than expectation
•Jobless Claims - higher than expectation
This week, investors will look for guidance from economic reports like Consumer Credit, Consumer Sentiment and Jobless Claims.