Tuesday, December 24, 2013

Mixed Messages In Today's Headlines

Meanwhile, stocks are hitting fresh all-time record highs.

Holiday shopping is weak this year, but that doesn't appear to have dampened Wall St.'s euphoric love of stocks.

And mortgage loan applications just sunk to a 13-year low, with refinance loan applications hitting a 5-year nadir.
But on the other hand, durable goods orders showed a healthy increase:
But there is a dark side to this news! The government used that old tool that we have all come to love -- those "seasonal adjustments" -- to inflate the durable goods figures! Furthermore, Durables Goods ex-transports was DOWN by -0.5% instead of rising by 1.2%.