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Strength of the Market
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The Strength of the Market is: Weak

Last week was a historically wild week for Wall Street - one of the most volatile periods on record. To start the week, investors were risk-off with trade-policy uncertainty. Then, on Wednesday, President Trump announced a 90-day reprieve on some of his high reciprocal tariffs. On this news, S&P 500 rallied 9.52% for one of the best single-day gains since World War II. The Dow Jones skyrocketed more than 2,900 points. The week ended with optimism as President Trump stated China will seek a trade deal. In addition, over the weekend, European Union representatives traveled to Washington to try and sign a trade deal. Despite the tumultuous week, stocks had solid gains - the S&P 500 posted a 5.7% advance, its best week since November 2023, the Nasdaq rose 7.3%, its best performance since November 2022, and the Dow Jones gained nearly 5%.

 

Economic reports from last week came back mixed:

•Consumer Credit - lower than expectation

•Small Business Optimism - lower than expectation

•Inflation (Consumer) - lower than expectation

•Inflation (Producer) - lower than expectation

•Consumer Sentiment - lower than expectation

•Jobless Claims - in-line with expectation

 

This week, investors will look for guidance from economic reports like Manufacturing, Retail Sales, Housing and Jobless Claims.

 
 
 

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