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February Philadelphia Fed Index

FEB PHILADELPHIA FED INDEX:  -24 V -10E
- New Orders:  -10.9 v -15.2  prior
- Employment:  2.5 v -1.5 prior
- Prices Paid: 46.6  v 49.8 prior
- Inventories: -13  v -11.7 prior
- Six-month business conditions outlook: -16.9  v 5.2 prior

Lower than expected.  Markets pulled back, but are hanging in there to the positive side so far.

 

T. Boone Pickens says he’s shorting oil.  He thinks it will trade in a range from around $85 to $100.  Crude inventory numbers later.