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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
be useful.
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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Oooh, Ooooooh, a Q&A at an irrelevant speech conference?
-Help us Ben Kenobi, you're our only hope.
america is too commercial and not productive enough.
http://expose2.wordpress.com
Good people I know are getting laid off again. Projects have basically stalled as everyone waits and watches. Virtually impossible to get people to spend on anything but the necessities. I can always tell the level of desperation by the number of emails I get from retailers advertising sales. It's like retail armageddon all over.
The overlord of world economies will be taking questions today and that is irrelevant?