The Strength of the Market is: Weak

Investors remain cautious about the war between Russia and Ukraine and fears have intensified on inflation. High fuel prices and lower inflation-adjusted income levels have many becoming more pessimistic about the U.S. economy. Last week, the Dow Jones lost 2%, the S&P fell 2.9% and the Nasdaq was down 3.5%. Economic reports from last week came back mostly negative: •Consumer Credit - worse than expectation •Small Business Optimism - worse than expectation •Job Openings - better than expectation •Jobless Claims - worse than expectation •Consumer Sentiment - worse than expectation This week, investors will look for guidance from economic reports like Manufacturing, Retail Sales, Homebuilder Sentiment, New Residential Construction, Existing Home Sales and Jobless Claims.