“Orders for big-ticket U.S. goods jumped 3.6% in May, mainly because of more demand for commercial jets and military equipment. Economists surveyed by MarketWatch had expected orders to rise 3.8%...Stripping out the volatile transportation sector, orders [rose] a much smaller 0.7% last month. Orders for core capital goods, a key barometer of private-sector business investment, advanced a modest 1.1% but posted the third straight gain.” Story at…
Instead, since the Federal Reserve chairman, Ben S. Bernanke, recently suggested that the strength of the economic recovery might allow the Fed to slow down its bond-buying program, waves of selling have convulsed the markets…
…The recent pain has spilled over into stock markets, pushing the Standard & Poor's 500-stock index down an additional 1.2 percent on Monday.” Story at…
Immigration Bill Incentivizes Employers To Fire Americans and Hire Amnestied Immigrants; Immigration and Obamacare’s Employer Mandate
Read more at http://globaleconomicanalysis.blogspot.com/#JjmoXWPLViXrE13l.99
Mish presents a logical and well thought out case.
Tuesday, the S&P 500 was up 1% to 1588 (rounded).