Strong Week for Markets, Housing Data May Be Better Than Reported

While stock futures were lower on Friday, the market showed early signs of holding gains from a three-day winning streak after less anxiety from trade fears and better-than-expected tech earnings.

While President Trump denied that rising yields were the catalyst for the 90-day pause on most tariffs, the markets responded with relief.

He also quieted his assault on Fed Chairman Powell even as the Wall Street Journal projected the Fed may lower interest rates sooner than previously expected. Nasdaq is up over 5% this week.

Housing data this week was initially discouraging with low sale numbers heading into a strong selling season, but analysts still expect a robust season of selling in key markets in the United States.

If interest rates come down, more buyers will come into the market.

The week ahead may be determined by technology stock earnings reports rather than the political climate under President Trump’s first 100 days.