The Strength of the Market is: Weak

Stocks showed strong gains last week, as investors continue to navigate an evolving global trade landscape. Last week, the S&P 500 gained 4.6%, the Nasdaq climbed 6.7% and the Dow Jones advanced 2.5%. With these latest gains, the Nasdaq is now slightly positive for the month. Although, so far in April, the S&P 500 is down 1.5% and the Dow Jones is down 4.5%. In recent weeks, stocks have been taken for a wild ride, as traders try to make sense of the severity of President Trump's tariffs, which were first unveiled on April 2. Investors are trying to be optimistic that the worst of the tariff-induced uncertainty is over. A busy week ahead for corporate earnings reports - Apple, Amazon, Facebook, Microsoft, Visa, Coke and many more will all be released this week. The results should provide some extra guidance with which way financial markets may go.

Economic reports from last week came back mixed:

•Manufacturing (Richmond) - lower than expectation

•New Home Sales - higher than expectation

•Existing Home Sales - lower than expectation

•Consumer Sentiment - higher than expectation

•Jobless Claims - higher than expectation

This week, investors will look for guidance from economic reports like Manufacturing, Housing, Consumer Confidence, Job Openings, Employment, Personal Income, Gross Domestic Product, Construction Spending, Vehicle Sales and Jobless Claims.