June 28, 2017
Exports were up and imports down in what are positive signals from the advance trade report. Other positives are gains in wholesale and retail inventories which, like the trade data, will also give a needed boost to second-quarter GDP. But a heavy negative for the economy is the 3rd decline in a row for pending homes sales, a dip that together with weakness in building permits are sending negative indications on the housing sector.
The Dow reversed yesterday's dip with a 0.7 percent gain to 21,454. Strength in the euro once again pulled down the dollar index which fell 0.5 percent to 96.03. Oil continues to firm, now testing resistance at $45.