Last week was a quiet, holiday-shortened week on Wall St with small price movement. It felt like investors and the markets alike were taking a well-earned break ahead of the upcoming release of important economic reports.
Key inflation reports will be released on Wednesday and Thursday this week and will hopefully support the several-month trend of decreasing inflation. Next week quarterly earnings reports will start to pour in and give investors a good picture of the economy from the first quarter and estimates for the coming quarters. A low inflation report combined with a positive earnings season would fuel the recent stock market rally and push it above important resistance levels. Last August the S&P 500 rose to 4325 and has not returned to those highs since. If the S&P can rise above 4325 it would be good confirmation that this rally is sustainable and would support the idea that the market has entered a new bull market cycle.
Photograph by: Johny Goerend on Unsplash
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