April 4, 2017
Today's lower trade deficit will, as far as first-quarter GDP is concerned, help offset yesterday's significant drop in vehicle sales. Still, first-quarter GDP is tracking at about 1 percent or so which would be very soft. Factory orders proved mostly solid though the gain was centered in the volatile category of aircraft and did not include strength for capital goods orders.
Stocks edged higher with the Dow up 0.2 percent to 20,689. Money moved back out of the Treasury market where the 10-year yield rose 4 basis points to 2.36 percent.