Durables orders good for stocks and economy
Orders for durable goods rose 0.4% in January, the Census Bureau reported this morning. Economists surveyed by Briefing.com had projected a 0.6% decrease. Ex-transportation new orders, which means excluding volatile aircraft orders (for January remember and therefore...
June durables positive lead in to tomorrow’s Q2 GDP report
Headline durable goods order climbed 6.5% in June. That’s well above the 2.9% increase expected by economists surveyed by Briefing.com, and quite a turnaround from the revised 0.1% drop recorded in May. But the headline numbers weren’t nearly as good as they seemed. Orders Ex-transport (that is once you discounted the huge month to month swings that the timing of aircraft orders can produce in this data) were up only 0.2%
Needed: More confidence in business investment
If the Trump administration is going to get the economy growing at something better than the 1.6% growth in GDP recorded in 2016, it’s going to need businesses to invest in new plants and new equipment–the stuff needed to make more stuff. Which is why the January report on durable goods order released today by the Department of Commerce is a little worrying.
Rally stalls near top of trading range–any reason for concern?
Yesterday, May 25, U.S. stocks looked set to bust right on through the top of the recent trading range at 2100. Today, May 26, not so much. The index stalled at 2090–and closed at 2089.25.
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