Several economic indicators seem to be trending down…

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by warrenfgerald

Just looking at economic headlines for the past 24-48 hours….

Mortgage applications… Down.

Existing home sales… Down.

Durable goods orders…. Down.

Consumer confidence…. Down.

Pending Home Sales… Down.

What is up?…

New Home Sales…. Up.

Conference Board Leading Economic Indicator Index…. Up.

Jobless claims…. Down (which is good).

It’s only one day’s worth of headlines, but this doesn’t seem like the kind of data that reflects a booming economy.

Early signs that US economy is starting to slow down. Mortgages applications down 5%. Durable orders down .6%. Pending home sales down .5%, crude inventories down 10 million barrels and oil prices are rising quickly.

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You can also see investors are slowly shifting out of tech and into energy companies and companies that cater to people who are struggling.

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