May 23, 2016 - We are encouraged by last week’s economic releases that continue to show the second quarter is off to a solid start. April industrial production rebounded while nine of the leading economic indicators ten components showed improvement. While recent stock earnings news has been disappointing, most of this has been driven by weak energy sector earnings. We are now seeing oil supply in much better balance with demand which has stabilized oil prices. Better energy sector profits and fewer bad energy loans will support energy stocks and reduce bank write-offs. This should ultimately support overall profit growth that is needed for higher stock market prices.
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