Market Ponders as Economic News Unfolds
Investors continue to weigh the outlook of trade developments between the U.S and China as officials from the world’s two largest economies meet. Will progress be made, or will new tariffs go into effect March 1? On the home front, the U.S. Department of Commerce reported the worst drop in retail sales in nine years, while initial jobless claims came in higher than expected. The market must now ponder whether this economic news will reinforce the expectation that the Federal Reserve will avoid raising rates this year. With much to consider, the 10-year Treasury yield held in the mid 2.60 level.