Today's Irrelevant Economic Data: Durable Goods
When it comes tho the stock market we have two things to focus on: very relevant unsubstantiated bold, double underlined
headlines, rumors, lies, innuendos, and month end window dressing, and extremely
irrelevant facts and economic high frequency updates. Here is the run
down of what to expect in the latter category today. Yes it is
completely irrelevant but for those who collect economic trivia, it may
From rulers of the world, Goldman Sachs:
8:30: Durable goods orders (August): Flat orders. We forecast that durable goods orders were unchanged in August after a 4.0% (month-over-month) increase in July. Although new aircraft bookings remained solid during the month, a sizable gain in the nondefense aircraft component looks unlikely after a 43% increase in July. Growth in core orders and shipments (nondefense capital goods excluding aircraft) may have been sluggish following weakness in many business surveys in recent months.
Total: GS: Flat; Consensus: -0.2%; Last: +4.0%.
Ex-transport: Consensus: -0.2%; Last: +0.7%. MAP: 4
17:00: Federal Reserve Chairman Ben Bernanke on “Lessons from Emerging Market Economies on the Sources of Sustained Growth” at the Cleveland Clinic Ideas for Tomorrow speaker series. Q&A expected.
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