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The Markets (as of market close May 4, 2018)
Despite a closing rally last Friday, large caps closed the week down from the prior week. The tech-heavy
Nasdaq and the small caps of the Russell 2000 fared better, up 1.26% and 0.60%, respectively. The jobs
report sent mixed messages to investors, with the lowest unemployment rate in several years being offset
by minuscule wage growth. Mixed corporate earnings reports coupled with the Fed's decision to maintain
interest rates raised the question of whether economic growth is slowing. Meanwhile, the rhetoric following
trade talks between the United States and China seemed positive. Actions may speak louder than words,
however, as China shut off all imports of U.S. soybeans in apparent retaliation for U.S. tariffs.
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