Investors hoping for a smooth ride this April may want to invest in some seasickness pills. The markets have continued to ebb and flow, moving up and down with each passing day. This week was no exception as investors continue to react to various political forces as well as varying degrees of bullish data.
Investors continue to question how effective President Trump will be in keeping his promises. So far, many of his orders have been met with challenges, protests and even legal battles. Investors have placed a lot of trust into these promises.
Pulling stocks up, for the most part, has been bullish data. Growth in the economy and labor market, in addition to other factors, continues to paint a relatively bullish picture. Albeit, in some instances, a slowing bullish picture. Whatever earnings that are still being reported have continued the trend of more profit but lower revenue and guidance estimates. That’s bullish in the short term, but it highlights longer-term problems.
In the end, this week saw investors continuing to be conflicted about the direction of both the economy and the markets overall.
Check out last week’s Market Wrap here