The numbers: A survey of U.S. economic conditions rose for the third straight month in April, touching 112.1, the Conference Board said Friday.
What happened: Higher stock prices, financial conditions, and a rosier outlook from consumers helped boost the leading economic index, produced by the private-sector Conference Board. Manufacturing still weighed on the numbers, however.
Big picture: The economy is shrugging off the weakness seen last year in housing and this winter in other sectors, but there are fresh hurdles to overcome, including the dent to business confidence caused by the hearing up of the China trade war.
What they’re saying: “The Conference Board expects economic growth to moderate toward 2% by year end,” said Ataman Ozyildirim, director of economic research at the company. “The current expansion will enter its 11th year in July, becoming the longest expansion in US history.”
Market reaction: The Dow Jones Industrial Average
was down about half a percent in mid-morning trading as investors digested the latest salvo in the trade war. Industrials like Deere & Company
were down 5% and 2%, respectively.