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

hyggeadvisors
Jun 17, 20241 min read

The Nasdaq closed at a record high on Friday. Hopes for continued cooling of inflation boosted the S&P 500 and Nasdaq last week - the S&P 500 was up 1.6% and the Nasdaq Composite ended the week higher by 3.2%. With inflation coming in lower than expectation, the aggressive stock market rally might be due for a pause.

 

Economic reports from last week came back mixed:

•Small Business Optimism - higher than expectation

•Inflation (Consumer) - lower than expectation

•Inflation (Producer) - lower than expectation

•Consumer Sentiment - lower than expectation

•Jobless Claims - higher than expectation

 

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

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