Market Weekly: April 19 – 26 2020

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  • #23550
    TradersCom
    Keymaster

    US March prelim durable goods orders -14.4% v -12.0% expected, Prior +1.2%

    Ex transport -0.2% vs -6.5% exp, Prior ex transport -0.6% (revised to -0.7%)
    Capital goods orders non-defense ex air +0.1% vs -6.7% exp, Prior capital goods orders non-defense ex air -0.9% (revised to -0.8%)
    Capital goods shipments non-defense ex air -0.2% vs -0.7% exp, Prior capital goods shipments non-defense ex air -0.8% (revised to -0.9%)

    Take out transportation and the internal numbers were much stronger than expected Watch for factor orders to see how bad Q1 GDP is. Demand for transportation equipment sank 41 percent, mainly due to a 296 percent drop in orders for nondefense aircraft and parts. Excluding transportation, new orders decreased 0.2 percent and excluding defense new orders went down 15.8 percent. Core capital goods orders, which exclude aircraft and military hardware, rose 0.1 percent.

    #23551


    [size=6][color=green][b]Dow 23,775.27 260.01 1.11%
    S&P 500 2,836.74 38.94 1.39%
    Nasdaq 8,634.52 139.77 1.65%
    GlobalDow 2,558.58 1.34 0.05%
    Gold 1,745.70 0.30 0.02%
    Oil 17.18 0.68 4.12%[/b][/color][/size]

    #23552
    TradersCom
    Keymaster

    U Mich April final consumer sentiment 71.8 v 68.0 expected, Prelim 71.0

    Final March reading was 89.1
    Current conditions 74.3 vs 72.4 prelim
    Expectations 70.1 vs 70.0 prelim
    1-year inflation 2.1% vs 2.1% prelim
    5-10 year inflation 2.5% vs 2.5% prelim

    Still, it remains the lowest reading since December of 2011 due to the coronavirus pandemic. Both current conditions (74.3 from 72.4) and expectations (70.1 from 70) were revised up while inflation expectations were left unchanged for both the year ahead (2.1 percent) and the next 5 years (2.5 percent).

    “In the weeks ahead, as several states reopen their economies, more information will reach consumers about how reopening could cause a resurgence in coronavirus infections. The necessity to reimpose restrictions could cause a deeper and more lasting pessimism across all consumers, even those in states that did not relax their restrictions.”, Richard Curtin, Surveys of Consumers chief economist said.

    #23553

    YAY — we’ve had it to the weekend 8)

    #23554

    [color=blue][size=5][i]And as I meditate to our creator, below are some neat songs found this
    morning … as took in a few sermons & hopeful our brightest scientists prevail
    As one who loves both arts/music & science/computer – I got compliment of being right & left brained – lol
    but fall far short at times …. Hillsong Worship is favorite gospel group for years (Sydney Australia)[/i][/size][/color]

    https://www.youtube.com/watch?v=a5pZkLWZv-E

Viewing 5 posts - 16 through 20 (of 20 total)
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