ECONOMIC CALENDAR:Monday: ISM Non-Mfg. Index Tuesday: JOLTS Wednesday: EIA Petroleum Status Report, FOMC Minutes Thursday: Jobless Claims Friday: Import and Export Prices, Treasury Budget
Quote of the week:
“Successful and unsuccessful people do not vary greatly in their abilities. They vary in their desires to reach their potential.” – John Maxwell
- Consumer spending flat in February. Spending by U.S. consumers barely moved in February as savings levels rose to their highest levels in more than two years. While this may affect economic growth in the first quarter, it may bode well for future spending.
- Motor vehicle sales edge upward in March. Consumer demand for new vehicles picked up slightly last month. Sales were driven largely by demand for foreign cars and big trucks and SUVs from domestic manufacturers.
- Factory orders surge in February. Despite the strong U.S. dollar, new orders for manufactured goods unexpectedly rose 0.2% in February after six straight months of declines. Excluding volatile transportation orders, factory orders rose 0.8%.
- U.S. trade deficit narrows. The gap between imports and exports narrowed in February as a strong dollar and a labor dispute at one of America’s main ports affected trade. The small deficit may raise first quarter GDP estimates.