Last week, the Dow Jones posted a fresh record high, as investors ended a volatile month on a high note. The latest inflation data was in-line with estimates from economists. At the end of August, the S&P 500 posted a 2.3% gain for the month, while the Dow Jones climbed nearly 1.8% and the Nasdaq advanced 0.7%. The S&P 500 notched its fourth straight winning month.
Economic reports from last week came back mixed:
•Manufacturing (Dallas) - higher than expectation
•Gross Domestic Product - higher than expectation
•Pending Home Sales - lower than expectation
•Consumer Sentiment - in-line with expectation
•Personal Income - higher than expectation
•Jobless Claims - higher than expectation
In a holiday-shortened week, investors will look for guidance from economic reports like Construction Spending, Vehicle Sales, Job Openings, Employment, Labor Productivity and Jobless Claims.
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