April 17th, 2026 1:15 PM by T. Fanning
Finally, some precipitation! Give it a couple days, we’ll be back in the 70s in no time!
Progress toward a Middle East peace deal pushed oil prices lower, helping stocks and bonds, while it was otherwise a quiet week for economic data. Producer prices, which are the costs businesses pay for materials, energy, and supplies to make goods, rose 4.0% from a year ago, mainly due to higher energy costs, but investors didn’t react much. In housing, existing home sales fell 4% in March to the lowest level since mid-2025, with prices barely up and inventory still tight. Sales expectations have been lowered, and builder confidence dropped, with more incentives and price cuts as costs rise.
Looking ahead, markets will mostly focus on the conflict in the Middle East and what Fed officials say about future interest rates. It’s a pretty light week for economic data, with the main report being Tuesday’s retail sales numbers. Since consumer spending makes up more than two-thirds of the U.S. economy, retail sales are an important signal of how strong the economy is right now.
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