Don’s Notebook April 11, 2018

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Stocks were lower on the opening this morning. Observers attributed the weakness to the military situation in Syria.

  • Gold, Treasuries and Yen rose on the news.
  • Russia’s ruble extended its three-day slump in trading this morning as foreign investors cut their holdings following the latest round of U.S. sanctions.

Fed watchers will also closely read today’s FOMC minutes from the March 20-21 meeting, due at 2:00 p.m. ET.

A drop in gas prices pulled down Consumer Prices in March which came in line with expectations for a 0.1 percent decline.

  • The core rate, (which excludes energy), did hit expectations at a modest 0.2 percent monthly gain
  • The year-on-year rate rose 3 tenths to 2.1 percent which also met with expectations.

Facebook CEO Mark Zuckerberg is back in DC testifying today in front of the House Energy and Commerce Committee.

Earnings Calls today: Fastenal and Bed Bath & Beyond.

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