The Morning View from West End: May 15, 2018

  • May 15, 2018

BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
(615) 591-0611   mbartlett@argenttrust.com

Announced this morning, retail sales increased 0.3% for April, matching estimates, and has grown 4.7% on an annual basis. Removing autos and gas, the monthly increase was also 0.3%. A decent report, indicating consumers are maintaining spending levels at the start of the second quarter. With consumption comprising almost 70% of GDP in the United States, the report shows the economy could continue to slowly grow in the months ahead and the Federal Reserve should remain on track for interest rate increases. Following the report, the ten year U.S. Treasury note moved higher. Equity futures are lower heading into the market open.

This information has been prepared by Argent Trust to highlight issues which may be of interest to the recipient and is not intended as legal, investment or tax advice. You are urged to seek legal, tax and accounting counsel for your particular situation before acting on topics discussed here. At Argent Trust, we assist our clients in managing and enhancing their wealth. Please call us at 615.591.0044 with questions or to schedule a meeting. © 2018 Argent Financial.