March 30, 2017
Consumers did their duty in the fourth quarter, spending at an upward revised 3.5 percent annualized pace and holding up GDP which could only manage a 2.1 percent rate. But consumer spending then faded in January and is expected to remain soft in tomorrow's report for February.
The Dow has had a mostly higher week and added a 0.3 percent gain in today's trade to 20,278. The dollar firmed against the euro to help lift the dollar index by 0.6 percent to 100.50. Oil has had a positive week, moving from $48 to just over $50.