“Orders to U.S. factories for long-lasting manufactured goods rose in February by the most in three months, but a key category that reflects business investment fell sharply. This category fell 1.3 percent, the second setback in three months. Economists said the weakness in business investment might reflect the severe winter, which led some industries to put modernization and expansion plans on hold…’The rebound could be huge once spring actually appears,’ said [Joel Naroff, Chief economist at Naroff Economic Advisors.]” Story at…
Doug Short always has a great analysis of durable goods adjusted for population growth and inflation. For the “real” goods on goods see…
S&P 500 APPROACHING AN INFLECTION POINT (dShort.com)
BANK RUNS IN CHINA (Reuters)
Still think the Chinese GDP is growing at 7.5%? Not likely. It sure seems like a slowdown in China will cause problems in the US.
LET THEM EAT I-PADS (David Stockman Blog)
“We are at peak debt. Household, business and government balance sheets are tapped-out. The problem is not too little CPI inflation, but the unavoidability of a pay-back era of sustained debt deflation. Yet the entire purpose of the Fed’s money printing regime—ZIRP, QE and all the rest—-is to force more debt into an economy that is already saturated. And as I have demonstrated elsewhere, the end result is that the Fed’s massive liquidity injections do not flow into the busted and exhausted Main Street credit channel, but only into the ‘Wall Street Bubble Channel’ where they fund endless carry trades, speculations and eventually rip-roaring bubbles.” Commentary at…
MARKET INTERNALS (NYSE DATA)
The NTSM analytical model was BUY today, Wednesday, based on the numbers that I follow. The Price indicator is positive, because up moves have been bigger than down moves recently. Sentiment, Volume and VIX indicators are all neutral, but the 5-10-20 Timer is positive as were the Market Internals so today the NTSM system is a buy based on those one-time indicators. Given the action in the afternoon I’ll watch the market ahead since the fears over sanctions will bring correction fears back.
NOTE: I'd be leery of buying stocks until the direction of the market is clearer.