Stock Market Update

[BRIEFING.COM] It was a soft start for the major indices as sellers renewed their efforts; however, a comeback effort has been waged that has the major indices back in positive territory. The quick swings have been a feature of a headline-driven market.

There is some chatter that the turn higher after the lower start is related to a report that the U.S. said China should request a call with President Trump, which goes toward the thinking that the U.S. is open to negotiating.

In any case, one can reasonably expect the market to remain volatile amid the tariff uncertainty, the economic uncertainty, and the earnings uncertainty.

The materials (+1.2%) and information technology (+1.0%) sectors are the early upside leaders.

Just in, the preliminary April Univ. of Michigan Index of Consumer Sentiment checked in at 50.8 (Briefing.com consensus 54.8) versus the final reading of 57.0 for March. Year-ahead inflation expectations increased from 5.0% to 6.7% while long-term inflation expectations jumped from 4.1% to 4.4%.