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Earnings season kicks into high gear this week with about 15% of the S&P 500 reporting. Consensus expects S&P 500 earnings to increase 18% year over year, with increases in all 11 S&P sectors.

Stocks tend to hold up well when military actions are contained. Historically, market reactions to contained military conflicts have tended to be limited and short-lived, with big declines almost always driven by deteriorating economic cycles.

Inflation readings head higher, but not enough to impact the Fed. The latest readings for the Consumer Price Index (CPI) and the Producer Price Index (PPI) were released last week. Both moved higher but remain at manageable levels.

Retail sales rebound, rising 0.6% month over month in March. Excluding autos and gas, sales rose 0.3%. Year-over-year comparisons accelerated across the board, jumping above 5%. Tax refunds may have also helped boost retail sales in March.

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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