Industrial production for March – Prior was +0.9% (revised to +1.0%) – Capacity utilization 78.0% vs 77.9% expected – Manufacturing production +0.1% vs +0.1% exp Solid report. It will push Q1 GDP forecasts up a tick or two.
1Q not looking so hot The Atlanta Fed GDPNow estimate for 1Q GDP growth has moved to 2.0% from 1.9% in yesterday’s report. The Atlanta Fed will not report again until April 26th.
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The numbers have been dismal This year in Europe is all about the end of QE. That’s supposed to signify Europe turning a corner but the economic data is showing otherwise.
With trade on the Trump/Abe agenda, hope the surplus is not too good Japan will release their trade balance at 2350 GMT. The expectation is for a Last month:
Forex news for North American trading on April 17, 2018 – Williams says he doesn’t expect inverted yield curve in next few years Markets: – S&P 500 up 28 points to 2706 Trade fears are receding and that sent the S&P 500 to the best levels since March 21. Not coincidentally, that was when Trump…
US tax filing website went down today The government can’t even get it right when it wants to take your money. The IRS online filing website went down today and Treasury Secretary Steve Mnuchin said online filers will now get an extension. How long, he didn’t say.
This is the private survey from API ahead of official oil stock data (U.S. Department of Energy’s Energy Information Administration’s (EIA) Crude Oil Inventories) due from the US on Wednesday.
Nasdaq up 1.74% as techs lead the way The S&P broad index is closing at 2706.39. That is above the 100 day MA at 2700.47 but off the high for the day at 2713.34. Nevertheless, the index did close up 28.55 points or 1.07%.
Gross notes that swaps curve has nearly inverted Bill Gross from Janus Capital is on twitter noting that investors shouldn’t be watching the Treasury yield curve but instead should be watching the swaps curve.