HIGHLIGHTS
- US stocks fall slightly and are just under all-time highs.
- International stocks advance.
- A very good retail sales report.
- Industrial production in China was up 8.5% for March.
MARKET RECAP
US stocks fell slightly, down by 0.28%, failing to break through the September 20th high. The market is less than 1/2% from that closing high. International stocks managed a gain of 0.32%. Bonds fell by 0.07%.
There was some good economic news this week. A solid retail sales report and good industrial numbers for March in China, see below.
QUARTERLY MARKET REVIEW
Our quarterly market review/outlook was published today on YouTube. You can view it here: https://youtu.be/KFl58-ipYIw
RETAIL SALES
Retail sales for March were up 1.64%, the increase was much higher than the consensus and it was the largest increase since September of 2017. The high number helped increase the Atlanta Fed's GDPNow estimate of Q1 growth to 2.8% from 2.3%.
CHINA
Industrial production in China jumped by 8.5% in March from a year earlier and the economy grew by 6.4% in the first quarter. The 6.4% increase even with Q4 and just below prior quarters but gives hope that China is beginning to stabilize. Lower taxes and regulation from the Chinese government spearheaded the improvements.
SCOREBOARD
Provided by:
Bruce Konners, CPA, CFA, PFS
Past performance does not guarantee future results.
The purpose of this commentary is to provide readers with a summary of recent market and economic news. It is not intended to provide trading advice. Investors should have a long-term plan and should consider working with a professional investment advisor. The statements and opinions expressed in this article are those of the presenter(s). Any discussion of investments and investment strategies represents the presenter’s views as of the date created and are subject to change without notice. The opinions expressed are for general information only and are not intended to provide specific advice or recommendations for any individual. Any forecasts may not prove to be true. Economic predictions are based on estimates and are subject to change.