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Strength of the Market
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The Strength of the Market is: Strong

hyggeadvisors
May 28, 20241 min read

The Nasdaq closed on Friday at a fresh record high as gains in artificial intelligence, computer chips and technology stocks outweighed worries that the Federal Reserve will delay cutting interest rates. Last week, the S&P 500 inched up 0.03% and the Nasdaq gained 1.41%. Meanwhile, the Dow Jones lost 2.33%, its first negative week in the last five weeks.

 

Economic reports from last week came back mixed:

•Existing Home Sales - lower than expectation

•New Home Sales - lower than expectation

•Consumer Sentiment - higher than expectation

•Jobless Claims - lower than expectation

 

In a holiday-shortened week, investors will look for guidance from economic reports like Manufacturing, Housing, Personal Income and Jobless Claims.

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