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By the Numbers

January 29, 2013 – 6:09 pm

stock_exchange_250x251The Jobs report for January comes out on Friday and everyone will be watching closely. Unemployment claims have fallen sharply so there is a little optimism in the air. Don’t expect too much.

However, yesterday the durable goods orders were sharply higher than expected and much higher than the previous monthly report. It was 4.5%. Airline sales for Boeing were a big part of that number but pull transport out of the report and you still have a gain of 1.3%. However, the core capital goods orders which tries to gauge the underlying strength or weakness in the economy was only up .2% after being up .3% the month before. That is not very strong.

The other report out so far was the pending home sales report for December and that was down 4.3%. Prices of homes have been rising but sales are softening.

It is no wonder that consumer confidence is still low as it fell from 64 to 58 this month. These numbers, when added to recent data over the last few weeks, tell me that jobs are still in short supply so again do not expect too much from Friday’s report. Still the economy is growing; just more of the same slow struggle.

Good Trading
Steve Peasley

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