JUST THE FACTS

Another week, another wild ride as tariff policies would once again dominate the news. All three major indices capitalized on the tariff pause mid-week and a rally Friday to close out with a winning week.

The massive surge after the tariffs pause wasn't sparked simply by investors who jumped back in. Strategic forces were in play as well. Hedge funds had no choice but to spend big on buying. Details here.

Consumers caught a solid break on price hikes last month. The March CPI on both overall and core inflation came in below expectations. The big question now, can they stay there with tariffs now starting?

Like consumers, U.S. producers also saw some solid relief from inflation in March. Lower energy costs deserve much of the credit for the cooler price gains, but like the CPI, future PPI's are all about tariffs.

U.S. consumers remain fearful about the state of the economy. The latest reading on sentiment shows tariff concerns were the main driver as inflation expectations surged to their highest levels since 1981.

With so much uncertainty in the markets these days, a holiday break sounds like a good thing. We'll get it with Good Friday, but until then, tariffs, earnings reporting and retail sales will all be the headliners.