After months of upward movement, US stocks markets have begun to struggle to keep pace.
The flow of economic data has not been helpful in this regard. We have not seen the kind of reassuring reports we were hoping for. US jobs numbers have been weak and durable goods orders have declined. Manufacturing indices in the United States, the eurozone and China dropped in March, perhaps foreshadowing worsening economic trends to come. And, last week the International Monetary Fund cut its global growth forecast for the year. What to make of all this?