Wall Street is cautious ahead of the Federal Reserve’s rate announcement. It will probably include the third rate hike in 10 years. It’s also watching the Dutch election. Populist conservative candidate Geert Wilders who is known as the “Dutch Trump.” He leads the Party for Freedom which is trying to take the largest number of seats in the general election and has endorsed the idea of the Netherlands leaving the European Union.
The Department of Labor reports the Consumer Price Index rose 0.1% in February and that met expectations. That was the smallest increase since last sumer, but it is up 2.7% over the past year, hitting the highest annual rate since 2012.
The New York Federal Reserve reports the Empire State manufacturing survey fell to 16.4 in March, down from February’s 18.7. Economists expected 15.4 . New and unfilled orders were both up, while shipments fell. Number of employees and average workweek both rose. The index for future general business conditions fell 4 points to 37.4 but “continued to convey a high degree of optimism about future conditions,”
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
