The monthly employment report comes out tomorrow, and markets are watching closely to see whether the string of positive surprises continues. If it does, it could be the start of a new upward run in the stock market. If not, it will suggest that economic strength may be starting to moderate. Either way, it will be big news.

I’m in New York today at the Goldman Sachs Asset Management Symposium, an annual event where a range of speakers discuss the markets and the world, with an eye to what might impact the future. I’m grateful to be here, listening to these smart people and trying to predict what the coming years may bring.

As I sit here looking out the window, wondering if my flight this afternoon will be able to take off, I’m reminded of the old proverb “April showers bring May flowers.” With rain coming down in buckets and expected to continue all day, we have no shortage of showers here in Boston. You could say the same for the U.S. economy and financial markets.

Yet again, all I can say is wow. It was a decent month and a great quarter for markets, both in the U.S. and around the world.

Last week’s data was generally positive, showing that consumers are feeling better and earning more. Surprisingly, spending growth continues to be weak, but that’s probably due to weather. Overall, it was a good week, but not one that significantly changes expectations going forward.

What will we look back on, six or twelve months from now, and not be able to believe we didn’t see? This is always a good question to ask, but looking at the calendar, it’s particularly apropos.

What April Fools' pranks might the market be playing on us right now?

As we close out the first quarter of 2017, all I can say is that it’s been a great one, economically and financially. Despite all of the worry and turmoil—in Washington, DC, and elsewhere in the world—markets have risen substantially and the economy has continued to grow.

The big news of the day is that the United Kingdom has finally pulled the trigger on its exit from the European Union. The letter initiating Brexit was delivered this morning, and the parties now begin the two-year process of negotiating the exit terms and subsequent relationship.

The health care bill was pulled from the House last week before a vote was taken, a sure sign that the support wasn't there. Speaker Paul Ryan has admitted that Obamacare will remain the law of the land for some time. President Trump has, as expected, already started to move on. The papers are trumpeting what a big blow this is to the administration and the Republican Party. 

Last week’s data was generally positive. Housing continues to strengthen; although strong demand has reduced inventories of existing homes, new home sales have started to pick up the slack. On the business front, capital spending continues to improve, although not as quickly as had been hoped.