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.
You can also see investors are slowly shifting out of tech and into energy companies and companies that cater to people who are struggling.
Libor continues to soar as EU & US Banks are now puking! pic.twitter.com/ayzm0Hbtlg
— Alastair Williamson (@StockBoardAsset) June 27, 2018
Here are some other articles about this story:
- thestar.com.my: Chinese stocks poised to enter bear market – Business News
- wsj.com: Has the Big Yuan Short Finally Arrived?
- wsj.com: Shanghai Stocks Slide Into Bear Market, Piling On the Gloom in China
- forexlive.com: No reprieve for Chinese stocks as Shanghai Composite enters bear market
- bloombergquint.com: China Stock Rout May Worsen, Analysts Warn No End In Sight Yet
- thestreet.com: Stocks Steady After Brutal Trade War Selloff
- money.cnn.com: China stocks enter bear market as trade war heats up
- nasdaq.com: China stocks join global slide, real estate and airline shares drop
- money.cnn.com: 6 things to know before the bell
- financialexpress.com: China stock rout may worsen, analysts warn no end in sight yet
- businesstimes.com.sg: Hong Kong: Stocks end down on volatile day in Asia, Stocks