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Investor Confidence Propels Stock Prices
Stocks gained about 1% on average last week with several economic reports pointing to a robust economy with low inflation. Equities also benefited from a reduction of worries about an escalation of the trade disputes. After a miserable prior week, technology stocks rebounded to lead the pack into higher territory. Even international stocks enjoyed a strong week.
This week’s economic reports focus on the housing market with August housing starts and August existing home sales. While the data is not expected to be very strong, real estate investment trust stocks have been surging of late.