Dallas Fed Manufacturing Production for May (ouch!): 5.5 V 12.5 in April
It should be noted here that the new home sales numbers were abysmal. Inventory seems to be dropping a bit, but I’ll need to see another month or two to be happy. And don’t forget this is NEW homes, existing homes numbers still have major problems. Go to Calculated Risk for graphs on April New Home Sales. (No need to reinvent the wheel here). That first chart is a whopper.
The indices are trying to hold on to modest gains, but I think it is going to be a struggle throughout the day.
