US markets ended last week on a positive note following a better than feared jobs report. On Friday, the administration also set up a meeting with the China trade team to try and get relations back on track. That meeting was set for Monday and along with this week’s inflation data would set the tone for the week. Markets moved modestly higher to start the week as the body language from that meeting was positive, and negotiations extended into a second day. On Wednesday, CPI came in better than expected and there was a positive update on the trade talks helping equities to rally modestly. However, markets faded in the back half of the day as President Trump said the Iran nuclear negotiations were not going well and the State Department began pulling personnel from the region. Equities recouped those losses Thursday as yields pulled back sharply with another positive inflation data point and as claims continued to move higher. The surprise came overnight when Israel launched attacks on Iran ahead of the scheduled US-Iran nuclear talks that were scheduled for this Sunday in Oman.

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