Financial News and Portfolio Management Discussion through April 15th

Strong earnings results drove stocks higher for the week.  The S&P 500 was up 0.5% and the Dow was flat for the week.  Internationally, Japan ticked up 0.3% and Europe edged down 0.2% for the week.  The yield on the 10-year Treasury rose to 2.56% as investors became more optimistic about the economy.

The Trump administration announced it is considering tariffs on $11 billion worth of European goods.

The IMF cut its global growth forecast for the year from 3.5% to 3.3%.

The EU gave the UK until October 31st to come up with a plan to leave the country bloc.

ECB president Draghi indicated the bank could take additional action if the economic picture for Europe worsens.

Minutes from the Fed’s March meeting showed greater conviction that the rate setting body would hold tight before taking further action.

The core CPI rose less than expected in March.

JP Morgan posted record profit for the first quarter topping expectations getting first quarter earnings season off to a strong start.

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