Top-of-mind economic news as we start the week:
— S&P 500 earnings for 1st quarter 2023 are expected to be down 6.7%, on average, based on latest analyst estimates.
— The US Consumer Price Index rose just 0.1% in March and is up 5% over past 12 months, a sign of slowing in rate of inflation.
— US consumers expect 4.75% inflation in the coming year and 58% said it is harder to borrow money, a 10-year high.
— US retail sales fell 1% in March (not inflation-adjusted), as higher prices and slowing economy took a toll; Feb. sales were essentially flat.
— The Biden administration proposed the strongest standards to date for carbon dioxide emissions for new cars (starting 2027) and heavy duty vehicles.
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