Very good durable goods number ex transportation and the futures are flying. Ex transportation durable goods order was up 2% on expectations of being up 1%. All the numbers were revised higher from the previous month.
So we have the mirror image from last month. Very good number, markets at highs looking like they are going to break higher, and futures flying pre market. The way this market trades in response to this number throughout today will be fascinating. The durable goods number is so volatile on a month to month basis that fundamentally it is hard to glean anything from it. However, the bulls have the excuse to send this market screaming. If they can't and the rally fades it will tell you alot.
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