Registered Investment Adviser Caleb Lawrence
Another last minute 30-day waiver averts a trade war for now. Disappointing economic data sends the major averages into the final hour mixed.
Constructions spending misses big with a 1.7% decline in March, its worst showing in a year. Residential construction fell hard, commercial slipped a little and public construction was unchanged. Once again the lamestream media blames the weather. This report will subtract from 1st quarter economic growth.
Manufacturing activity missed in April with a 2-point decline to 57.3 as per the Institute for Supply Managers Manufacturing Index, to reach an 8-month low. Small declines were noted in most sub-categories. Prices paid increased again and remain very high.