Last week was dramatic. After the Federal Reserve ruled out the prospect of larger interest rate hikes, the Dow Jones Industrial Average posted both its BEST and WORST day since 2020. Even with extreme turbulence, the S&P 500 ended the week barely down - lower by only 0.2%. Looking ahead, investors should expect continued volatility as the newest inflation data is released on Wednesday.
Economic reports from last week came back mixed: •Construction Spending - worse than expectation •Vehicle Sales - better than expectation •Job Openings - better than expectation •Private Employment - worse than expectation •Total Employment - better than expectation •Jobless Claims - worse than expectation •Consumer Credit - better than expectation •Consumer Income/Spending - worse than expectation This week, investors will look for guidance from economic reports like Small Business Optimism, Consumer Sentiment and Jobless Claims.