April 10, 2018
Conciliatory comments from President Xi, including recognizing President Trump's complaint yesterday over car tariffs, is easing concerns over trade frictions and sent the Dow up 1.8 percent to 24,408. The day's economic news is led by producer prices which did show tariff-related pressure for steel but not much inflation otherwise.
Uncertainty over a possible U.S. strike against Syria is raising general concerns over the Middle East and fed a second day of strong gains for oil which rose roughly $2-1/2 for West Texas Intermediate to $65.75. Rates were little changed once again with gold firm near $1,345. The dollar index eased slightly to 89.62