Despite last week’s up and down nature, stocks managed to hit new record highs. Investors, this week, will be looking for more of the same. And the week’s economic news should be pretty accommodating.
So far, this month’s economic data has been mostly positive. With August about half-over, we’ll start to see critical measures of inflation, regional manufacturing and housing data being released. Also this week, the Federal Reserve will be busy with the release of its latest Federal Open Market Committee (FOMC) minutes. While the Fed continues to pause, the minutes of its last meeting will still be an important guide for Fed watchers and investors.
In terms of earnings, the so-called earnings season is beginning to wind down. This week, the pace of releases will start to slow; however, there are still plenty of bellwethers that will be reporting.
All in all, investors should expect a relatively easy and profitable week, assuming data and earnings keep up with current trends.