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Durable orders are down. Confidence is down, too, which should be of no surprise.
US MARCH DURABLES ORDERS REVISED TO -0.3% FROM +0.1%
- Factory inventories revised to 1% from 0.9%
- Factory shipments revised to 1.3% v 1.1%
MAY PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 59.5 V 62E (LOWEST READING SINCE JUNE 1980)
- 1-year inflation expectation at 5.2% v 4.8% in April (highest since Feb 1982)
Entries (RSS)
May 16th, 2008 at 10:59 am
So Chuck and Lisa,
let me quess what is going to be next victim - job market? what about higher cost and lower margins? It seems now more like stagflation … now it is scary and will drift around the world… comodities are UP, oil UP, gold UP, dollar -(anybody surprised?) DOWN…
May 16th, 2008 at 11:15 am
Lisa, It’s expiration Friday. Where is the manufactured news such as the Govt. plan to save everyone holding a mortgage. It’s strange that there is nothing YET today forcing the shorts to run for the hills. Am I just paranoid? Nahhh.. the manipulation will march on!
May 16th, 2008 at 12:23 pm
EXPIRATION FRIDAY FAKE NEWS! I knew it would happen. Paulson speaking at the moment. (paraphrase)”This housing plan will not use tax payer dollars.” Yeah, but he neglects to mention that FRE and FNM will HAVE to be rescued with TAX PAYER dollars when they implode.