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

hyggeadvisors
Nov 6, 20231 min read

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.

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