Registered Investment Adviser Caleb Lawrence
The markets enter the final hour with substantial gains again despite mixed but not overly significant data. Will see if they can hold on into the close, as yesterday they failed to do so. That said various items involving Trumps past deeds seem to be going from bad to worse but have so far avoided spooking either the financial markets or Republican morality.
The California Manufacturing Survey increased 1.5 points in the 2nd quarter to 63.3. The details were unremarkable save for commodities prices hitting a very high 82.
The Producer Price Index or PPI gained .3% in March, on a year ago basis wholesale prices advanced 3%, on notable gains in goods and services prices.
Wholesale Inventories advanced significantly for a 4th consecutive month in February with a 1% gain. Sales reversed much of last month’s decline with a 1% increase but have slowed markedly over the last 3-months with an average gain of just .1% per month.