Manufacturing Picking Up Steam; Housing Isn't
Another rise in new-orders data suggests the industrial economy is on solid ground, but demographics are holding housing down.
Overall, it wasn't a great week for U.S. equity markets, with the S&P 500 down 1.75% and U.S. small-cap losses approaching 3% as doubts about the amount and timing of potential federal government policies rose.
Confusion as House Republican leaders pulled their healthcare bill certainly didn't help matters. Given the market's post-election boom had been premised on the quick adoption of several Trump initiatives, the market's reaction, especially on Friday, is not surprising.