Don’s Notebook June 6, 2018

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Today’s International Trade report for April from the US Department of Commerce offers details on the first tariff effects.

  • Overall, exports rose 0.3 percent in the month to $221.2 billion with goods, led by a gain for industrial supplies and also food, up 0.2 percent at $141.3 billion and despite a 0.1 percent slip in service exports which totaled $70 billion.
  • Imports fell 0.2 percent with goods, reflecting pull back in cellphone imports, down 0.3 percent to $209.5 billion and services up 0.6 percent to $47.9 billion.

Overnight, the MSCI Asia Pacific Index rose 0.4 percent, while Japan’s Topix index closed 0.2 percent higher, a fifth consecutive daily gain, spurred by the weaker yen.

In Europe, the Stoxx 600 Index closed 0.58 percent lower with most sectors moving into negative territory. Italy’s FTSE MIB fell more than 0.3 percent.

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