Economic Data Meaningless During Lockdown, But Here It Is

April 24, 2020

0

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.

President Trump is expected to sign the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266) into law at 12 noon ET today #PPP #PaycheckProtectionProgram
— Rokas (@beresniovas) April 24, 2020

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.

Author

CDM Staff

The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."