Capital goods orders widely miss expectation, coming in at +0.3%, on a consensus of +2.8%, with the previous -1.2% drop revised to just -0.1%. Durable goods ex transportation came in at -3.8%, on expectations of 0.5% (previous -0.9% revised to 0.2%). And the kicker – non-defense capital goods ex. aircraft came in at -8.0% M/M versus . . . → Read More: Durable Goods Broadly Miss Expectations, Push 10 Year To 2.44%, Lowest Since January 2009
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It appears the earlier market rumor about a Chicago PMI of 53.6 that sent the SPOOs another leg lower were incorrect. Now if only the administration can please reconcile the drop in the economy with the PMI surge all will be forgiven. In the meantime stocks keep trading from headline to headline. Categories posting improvement include . . . → Read More: Chicago PMI At 62.3 Versus Expectations Of 56 Print |
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