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Numbers Everywhere

April 27, 2011 – 5:06 pm

After yesterday’s nice rally on good earnings news, this morning earnings reports continue that trend. However, also boosting the market this morning was a report on durable goods that showed a rise in sales of 2.5% in March. The experts predicted a nice positive number but were a little high on their expectations at 3%. That was a bounce up from a negative number reported for February, but that number was revised up to a growth of .7%.

More importantly a part of the durable goods report that investors and traders focus on is the core capital goods spending which excludes volatile defense and transportation spending. The core number was up 3.7%. That
provides a better look at long term trends in the private sector. Also of note was an increase of 10.4% in computer orders. Corporate America has stepped in and started to spend their massive cash horde on capital goods. If that trend continues jobs should continue to grow and productivity will increase as well.

Tomorrow we will have a first look at the first quarter GDP number and on Friday we have a number of statistics released as the earnings reports keep coming in. This week is a busy one for those who like numbers.

Good Trading
Steve Peasley

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