Initial Claims, Durable Goods, New Home Sales
In our top story tonight, the leader of al-Qaida in Iraq, Abu Musab al-Zarqawi, is STILL dead and someone else has taken his place.
Initial Claims -7K to 298K. Inside the number: continuing benefits -23K to 2.47 Million, McJobs are firming the last 2 reports. Full Report
June Durable Goods +3.1% vs prior revised UP +0.3% vs -0.2% Full Report
Inside the number: Good news, durable goods YTD +9%, this months jump due to transportation +52.1%; durable goods ex transportation +1.3%.
Bad news, weakening core capital equipment +0.4% vs prior +1.3%; annualized +3.2% the smallest gain in 6 quarters.
With an uncertain outlook, cash rich corporations are hesitating to invest.
June New Home Sales DOWN -3% to 1.13M
Inside the number: Bad news, prior month revised down to 1.23M. YTD sales -11.9%; since last summers peak -18%.
Worse news, inventory YTD +24%, this month +0.7% to an all time high, homes NOT YET built equal 19.8% of the inventory, the highest pct since 1991.
Really bad news, YTD Philly HGX Housing Stock Index -23.5%. Conditions are much softer than previously thought and industry insiders would like to think. And the worst is yet to come.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!!
Initial Claims -7K to 298K. Inside the number: continuing benefits -23K to 2.47 Million, McJobs are firming the last 2 reports. Full Report
June Durable Goods +3.1% vs prior revised UP +0.3% vs -0.2% Full Report
Inside the number: Good news, durable goods YTD +9%, this months jump due to transportation +52.1%; durable goods ex transportation +1.3%.
Bad news, weakening core capital equipment +0.4% vs prior +1.3%; annualized +3.2% the smallest gain in 6 quarters.
With an uncertain outlook, cash rich corporations are hesitating to invest.
June New Home Sales DOWN -3% to 1.13M
Inside the number: Bad news, prior month revised down to 1.23M. YTD sales -11.9%; since last summers peak -18%.
Worse news, inventory YTD +24%, this month +0.7% to an all time high, homes NOT YET built equal 19.8% of the inventory, the highest pct since 1991.
Really bad news, YTD Philly HGX Housing Stock Index -23.5%. Conditions are much softer than previously thought and industry insiders would like to think. And the worst is yet to come.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!!
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