April 16, 2018
In what may be an early effect of tariffs and talk of trade war, outlook readings in the Empire State manufacturing report have literally plummeted this month though indications on current activity remain positive. There was also a mixed message to the March retail sales report which got an overdue boost from auto sales but showed only moderate gains in other components in a reminder that the consumer, despite the big tax cut, has been subdued so far this year.
The successful strike and on Syria helped send the Dow up 0.9 percent to 24,573. Oil, which rallied strongly last week in the build up to the strike, fell back $1 to $66.33. The dollar index also fell, down 0.5 percent to 89.44.