Morning update:
WASHINGTON (MarketWatch) - Orders for U.S.-made factory increased a better-than-expected 1.1% in April, largely due higher prices for gasoline and other petroleum products, the Commerce Department reported Tuesday.Orders for durable goods fell 0.6% in April, revised down from the 0.5% drop estimated last week. Orders and shipments of nondurable goods rose 2.8% in current dollars, led by a 6.3% increase at petroleum refineries, which nearly matched the rise in gasoline prices during the month. Orders for computers dropped 22.5%.
The market rallies on the mixed data, but the SOX is still in the red. AD lines have gotten much better and if NQ can hold the 2018/2020 level, bulls could take off. Note however that the yield on the ten year is hitting 4%.
WASHINGTON (MarketWatch) - Orders for U.S.-made factory increased a better-than-expected 1.1% in April, largely due higher prices for gasoline and other petroleum products, the Commerce Department reported Tuesday.Orders for durable goods fell 0.6% in April, revised down from the 0.5% drop estimated last week. Orders and shipments of nondurable goods rose 2.8% in current dollars, led by a 6.3% increase at petroleum refineries, which nearly matched the rise in gasoline prices during the month. Orders for computers dropped 22.5%.
The market rallies on the mixed data, but the SOX is still in the red. AD lines have gotten much better and if NQ can hold the 2018/2020 level, bulls could take off. Note however that the yield on the ten year is hitting 4%.
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on Tuesday, June 03, 2008 at 6/03/2008 10:05:00 AM.
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