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Durable Goods Orders Tumble; Biggest Miss In 2014
Following last month's far-stronger-than-expected 'defense-spending-stuffed' Durable Goods orders, which were subsequently revised downwards, they plunged in May (at the heart of Q2 GDP creation). Against expectations of no gain, Durable Goods Orders tumbled 1.0% - the biggest miss in 2014. It seems the brief bounce back from weather has now gone entirely as it seems no submarines were ordered this month or excess Blackhawks to save the day. Not exactly great news for Q2 GDP (especially after the Q1 collapse). New orders ex transportation dropped for the first time since January - again hardly differentiating Q1 'weather' from Q2 'rebound'.
On a year-over-year basis, Durable goods are once again about to enter the red zone:
And as for core capex orders, the trend is not your friend:
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Run You Fools!
Wait, didn't Kerry just said that they were to send a bunch of Black Hawks the Egypt very soon?! That should help replenish durable good orders.
So that was that rumbling sound.
And gold explodes up about 10 bucks.
Gold is not even green day on day.
$100 move is all I want to see.
anybody remember the days when this was always "DURABLE GOODS EXPLODED ON THE UPSIDE YET AGAIN!"
....
if yes...
it only means...
you're getting old...
Durable goods in a throwaway society. Isn't that an oxymoron?
"Durable goods in a throwaway society. Isn't that an oxymoron?"
garbage in...garbage out
Cash goes in, stock buybacks go out.
http://www.bloomberg.com/news/2014-06-25/orders-for-u-s-capital-goods-ri...
"durable" means like "durable" in a marriage.
you buy it thinking you're going to tap it 10 times a day...
and when you own it...
you put it in a box and measure the dustlayer every year and get all exited when the dustlayer reaches 2mm...
So all those people that bought houses with cash didn't furnish them? I wonder what that means.
They all bought nice curtains to cover the windows. Long MSO.
a house without furniture is called a "design home"
white walls and a white plastic chair...
and you can sell it all as "decorated by a designer => extra 50K"
Finally, some crappy economic data, should be a banner day for stawks then!
Is anyone listening to this Joshua Feinman(UBS) clown on CNBS? This is a one off and it doesn't pass the smell test. All while he's shitting his pants.
The clown probably has a nail gun in the trunk of his car!
Do yourself a favor and change channels or mute the volume. That garbage dropbox channel and their pathetic, decrepit hosts are not worthy of anyone's time - not to mention that they should be held accountable for the irresponsible behavior they foster.
I only watch the blowhorn for large macro releases, then promptly change the channel. I got a great laugh out of that segment though.
Sorry YEN, can't fall off the wagon. 8 months sober of CNBC. I still listen to Bloomberg on occasion.
Wow, things are so bad that they have to resort to throwing the kitchen sink into Q1 GDP being lower in order to have any chance of posting positive Q2 GDP and avoid being "technically" in a recession - an automatic 20% drop in the stock market.
but GDP will be fine for Q2 - LMFAO!!!!
here we grow, right Yellen?
- 2.9 and thats the new enhanced better tasting good for you calculations
Kevin Henry's team very busy, in "buying panic" mode, catching all sorts of falling knives - particularly trying to protect banks who are short the long end of the treasury curve.
BTFD
There is NO Money anywhere for Capital Investment only for Stock Buybacks and derivative counterparty musical chairs. The music is still playing so keep dancing FOOLs. But when the music stops you will find that NO Money was spent to BUY CHAIRS!
Auto motivated union channel stuffing was a success. Blame it on climate disruption.
Even more pent up demand for Q2. BTD bitchez!
THIS TOO IS BULLISH
time to go all in on Chipote
Just wait.....Queen Yellen will sponsor another "Glory Hole" and all will be fine with the markets. Taper the Taper.....Bullish.....BTFD Baby!!
If goods are durable then you hardly need new orders anyway...
Didnt they tell us the PMI was at an all time high about a week ago?
Would I be right in thinking the Durable Goods number will surge when the market is freed of the Ex-Im Banks shackles?
Participation rate 25-54 vs weekly claims (interesting new dynamic):
http://bit.ly/1iFrKXe
Housing starts:
http://bit.ly/1iFrLKB
Corporate and Govt debt (as percentage of GDP):
http://bit.ly/1iFrNSE
The economy is a farce. Its the product of forced low interest rates, hot money and debt expansion.
70% of wage earners make less than $50k a year. 50% less than $28k.
http://1.usa.gov/1kPa6Qx
To all of you not on board with Crony Communism yet; there is still time to join the party. Can you say -2.9% 1st quarter GDP print and green arrows across the board in the same sentence. We can!!!
Sing with me everybody:
God bless communist America
Stock market that I love
Stand beside Lloyd Blakenfein
and guide him....
Only need so much lumber, nails and sandpaper to make your box.
Didn't you hear, now we use shopping bags.
All this information is just "Noise." and the new truth will be read after Q2 is released, all Central Planning commitees appologize for this delay in release of this news and are in no way responsible for changing the outcome of any primary races.
Smells kinda like the Clinton second term. The playbook sez they're supposed to push out the official start of the recession past the midterms. Then allow the markets to piss themselves, before proceeding to goose everything to the moon for 2016. Pity the fool in the Whitehouse for that shitstorm.
Bloomberg headline on Durable Goods report:
Orders for U.S. Capital Goods Rise as Investment Picks Up