Raging Northern California wildfire could destroy $200 million worth of homes
April's job gains were strong enough to keep a rate increase on the table for September but weak enough that a June increase looks highly unlikely.
Next week's data will provide some important clues.
The first-quarter GDP contraction is not indicative of the economy's underlying strength and should snap back to growth mode in the second quarter.
Seasonal factors and weather have confounded economists who favor the quarter-over-quarter growth methodology.
Sluggish consumption growth and falling net exports could be big headwinds on GDP this quarter.
In years past, job growth has looked remarkably strong in late winter and early spring, only to fall apart over the summer months.
The market may cheer more free money for all, until the reality of Japan's issues gets a second look.
The manufacturing sector looked particularly strong this week, while housing data was mixed.
Hopefully, their boost in savings will start to burn a hole in the economy's pocket.