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S&P500 -2.18%(2,881.40); NASDAQ -3.03% (7,916.94); DJIA -2.12% (25,942.37)


This week’s reports:

* April’s CPI rose 2.0% y/y versus March’s +1.9% y/y. CPI ex Food and Energy rose 2.1% versus March’s +2.1% y/y.

* March’s Consumer Credit rose $10.28 billion from February’s +$15.45 billion. Credit growth slowed to its lowest in nine months as consumers took less credit card debt while non-revolving debt rose.

* March’s Wholesale Inventories fell 0.1% from February’s zero change.

* Initial Jobless Claims for the week ending May 3rd fell by 2K to 228K. Continuing Jobless Claims for the week ending April 26th rose by 13K to 1,684K.


  • US stocks fell for the week, with the S&P 500 logging its largest weekly drop of 2019, after the US increased tariffs on $200 billion of Chinese goods to 25% even though the trade negotiations between the two countries resumed on Friday.
  • Investors pulled more than $20.5 billion from global equities in the past week, showing the impact of trade tensions between the US and China on confidence in financial markets. $7.3 billion flowed into bonds in the last week. Stock outflows have reached $116 billion  this year so far.


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