In the s p 500, fundamentals deteriorating for the store maker. Guy lets get to our top story. U. S. Growth is slowing in the First Quarter but not as much as analysts anticipated. Consumer spending plus gdp growth to over 2 despite a drop in investments and exports which will probably worry the fed. Joining us now on set. Afternoon. Guy the dollar up six days in a row. It seems to be a tough trade right now. How will that change . As things stand, there is little to change it. When you think about this data that we saw this morning, it confirms the fact that the u. S. Economy is doing well. There are pockets of weakness, but for the most part, the u. S. Is doing far better than the rest of the world. As things stand, even if the fed cuts rates, the u. S. Dollar is still going to be the highest field. Few larry kudlow amount a minutes ago and said that u. S. Is not going to intervene in the Foreign Exchange markets. Was there serious thought that the white house was considering it . Yo
Cabinet level officials talking about this, even openly is white remarkable. Is quite remarkable. David something that might be affecting the dollar is the gdp numbers. What is the attitude in the house behind you . It was nice, but it was not the 3 or 5 President Trump promised us. Kevin that is right. Privately they feel that the president has continued to hammer jay powell on interest rates. As a result of the economic landscape, two developments regarding gdp. Robert lighthizer meeting on capitol hill with lawmakers about passing usmca, maybe even in september, and then he will fly around the World Next Week with Steven Mnuchin for china trade talks. A lot of Economic News on what was otherwise a slow friday in washington. David never slow at the white house. That is for sure. Our thanks to kevin cirilli. Now lets get more on those gdp numbers with carl riccadonna. Were they encouraging . Carl the 2. 1 would have been 2. 7 were it not a big drag from exports. We can see the impact
G20 so far. Officials, official activities have not yet started related to this. The most anticipated meeting here is between President Trump and president xi jinping, which will happen, the chinese plan on presenting during that meeting their plan or their want for what should be acceptable in a trade deal. Included in that, according to chinese sources, is lifting the sanctions on huawei. Those sources say the chinese added that because President Trump indicated huawei could be on the table in a final deal. A Senior Administration official pushing back, saying its unlikely sanctions will be lifted in any case. White house economic adviser larry kudlow adding the president is happy with the status quo. Hes perfectly happy where we are and where he is. In these socalled negotiations and talks. And if need be, we may move ahead, we may move ahead on additional tariffs. Reporter the chinese say a precondition for the meeting between President Trump and president xi jinping is that no add