Economic report says data encouraging
Net income was down sharply in Q1, largely before lockdowns
The S&P 500 is up more than 13% in the last year despite ongoing economic uncertainty
Fed Chair Jerome Powell discussed new Main Street Lending program on Friday
The drop in household spending was broad, while the savings rate was up
The outcome may be worse for the April-June quarter, economists predict
The previous estimate was $252.1 billion, before recent pandemic measures
Pandemic relief efforts are also creating an economic trade-off
Bank earnings and GDP numbers headline a busy week
Wholesale trade declined in March as the pandemic developed