Stocks had their best week since November of 2020. Last week, the Dow Jones was 5.4% higher, the S&P 500 was up 5.5% and the Nasdaq Composite increased by 8.1%. Although, a great week doesn't stop investors from worrying - the main ones being: 1.) the Federal Reserve and the expectation of six more interest rates hikes this year, 2.) the ongoing war between Russia and Ukraine and 3.) the emerging subvariant of Covid-19 (BA.2). With these worries, investors shouldn't expect higher-than-normal market volatility to slow down anytime soon.
Economic reports from last week came back mixed: •Manufacturing (New York) - worse than expectation •Manufacturing (Philadelphia) - better than expectation •Retail Sales - worse than expectation •Homebuilder Sentiment - worse than expectation •New Residential Construction - better than expectation •Existing Home Sales - worse than expectation •Jobless Claims - better than expectation This week, investors will look for guidance from economic reports like Manufacturing, New Home Sales, Pending Home Sales, Consumer Sentiment and Jobless Claims.
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