Durable goods are down 0.1%.
That's down from up 0.8% last month. Notice we haven't had big numbers since last Summer and that's only because they measure against the previous months and last Sping was a complete disaster. Durable Goods is a volatile measure and, ex-transportation, we are up 0.7%, so it's not terrible – just disappointing.
Later we get the Investor Confidence Report, which you would imagine must be high with the S&P around 4,500. We also have the Business Uncertainty Report coming up and, if Business Optimism is any indicator – it's not going to be good as we took a very ugly turn in the recent report:
Businesses are, of course, worried about being shut down again due to Covid and people are worried about catching Covid from their maskless customers. Imagine being a waiter or a teacher or any of those jobs where you are surrounded by people all day long – yikes!
IN PROGRESS
