May 10, 2017
At a strong 0.5 percent overall increase that included a nearly as impressive 0.4 percent ex-petroleum gain, import & export prices in April bounced back solidly from what was an unusually weak March. Price weakness was one of March's unwanted features and today's data set up what could be stronger than expected reports on Thursday for producer prices and consumer prices on Friday.
Markets showed little reaction to President Trump's surprise firing of FBI director Comey. The Dow posted a 0.2 percent decline to 20,943 while the dollar index firmed 0.1 percent to 99.63. Oil jumped $1-1/2 to $47.50 on a big draw in weekly inventories.