Following a slump in January, stocks bounced back sharply last month, with the S&P 500 ending February at an all-time closing high.
But whether the record streak continues in March will largely depend on the economic data on tap this week.
Recent reports about the job and housing markets, the retail sector and manufacturing have pointed to weakness this winter. Although some of the softness is probably the fault of bad weather, it’s unclear how much is really due to snow and ice. So there are concerns that the economy may indeed be weakening.
This week’s data dump includes reports on personal income and spending, manufacturing activity and construction. But the highlight of the week comes on Friday: the February jobs report.
The past two jobs reports have been disappointing, showing signs of a slowdown in hiring. And February may not be much better.
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