April 5, 2018
The nation's trade deficit continues to deepen, totaling $57.6 billion in the month of February and pointing to strong downward pull from net exports in the first-quarter GDP report. Cross-border trade is now of course a central focus for the markets and today's results are the last before U.S. tariffs on primary metals begin to affect the data in March.
Stocks extended yesterday's momentum, posting a second straight 1.0 percent gain to 24,505. Demand for bonds eased slightly with the 10-year Treasury yield rising 3 basis points to 2.83 percent while demand for the dollar firmed as the dollar index rose 0.4 percent to 90.50. Oil held steady near $63.50 while gold edged back to $1,330.