Trade War, Resignations, And Scandal Overshadow Rise In Leading Indicators
"The U.S. LEI accelerated further in January and continues to point to robust economic growth in the first half of 2018. While the recent stock market volatility will not be reflected in the U.S. LEI until next month, consumers' and business' outlook on the economy had been improving for several months and should not be greatly impacted," said Ataman Ozyildirim, Director of Business Cycles and Growth Research at The Conference Board. "The leading indicators reflect an economy with widespread strengths coming from financial conditions, manufacturing, residential construction, and labor markets."
On Thursday, President Trump signed a Presidential Memorandum targeting China's "economic aggression" and branded China an economic enemy.
The Standard and Poor's 500 plunged about 5.4% for the week as fears of a trade war spread, the National Security Adviser was dismissed, and scandalous new accusations surfaced about Mr. Trump's personal life and competed for headlines.
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