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Blowout Durable Goods Orders…Triple Expectations…Corporate Media Stutters

Blowout Durable Goods Orders...Triple Expectations...Corporate Media Stutters
Image by Seattle Municipal Archives

Blowout Durable Goods orders this morning, almost tripling the consensus estimate. The corporate business media talking heads were left stuttering to try and explain.

Defense orders and autos contributed the most to the better than expected results. In any event, the numbers were strong and cannot be ignored.

With markets at these high levels, traders did not bid up prices on the numbers. Equity futures are essentially flat as we write.

Tomorrow’s speech by Fed Chairman Jerome Powell at Jackson Hole, WY will be impactful.

Durable Goods Orders ex-Transportation (Jul) printed at 2.4% vs 2% consensus estimate.

Durable Goods Orders ex-Defense (Jul) printed at 9.9%.

Durable Goods Orders (Jul) printed at 11.2% vs 4.3% estimate.

Nondefense Capital Goods Orders ex-Aircraft (Jul) printed at 1.9% vs 1.9% estimate.

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LIVESTREAM: Republican National Convention Day 3, 8:30pm EST - Globalist News | #Globalist August 26, 2020 at 11:01 pm

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UPDATE: Fed Announces New Policy To Keep Rates Low…GDP Down Q2But Beats Estimates…All Eyes On Fed Chairman Powell Speech - Globalist News | #Globalist August 27, 2020 at 2:03 pm

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Mimi August 28, 2020 at 3:41 am

Housing demand is driving orders. As people flee the cities and look to put down roots elsewhere.

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