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Economic Data Meaningless During Lockdown, But Here It Is

Economic Data Meaningless During Lockdown, But Here It Is
Boeing Airplane Co. plant interior, Seattle, Washington, 1928
Image by UW Digital Collections

Financial markets opened strong today on continued rise in oil prices as crude oil traders look to a rebound in oil demand post lockdown.

Congress passed the refill of the Paycheck Protection Program yesterday and the President will be signing at 12pm EST today. Democratic Party leaders are now pushing for a bailout of state and municipalities which is essentially a bailout of government employee unions.

Durable Goods Orders ex Transportation (Mar) printed at -0.2% vs -5.8%.

Durable Goods Orders ex Defense (Mar) printed at -15.8%.

Durable Goods Orders (Mar) printed at -14.4% vs -11.9%.

Nondefense Capital Goods Orders ex Aircraft (Mar) printed at 0.1% vs 6.0% estimate.

Michigan Consumer Sentiment Index (Apr) printed at 71.8 vs 68 estimate, declining the most ever recorded, but coming in slightly above expectations.

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