Chart of the Day
Posted at 3:15 p.m. on Jan. 28
– With fairly strong durable goods orders data today from the Census Bureau, Cullen Roche provides this chart showing the close relationship between durable goods orders, the S&P 500 stock index, and the occurrence of recessions in the US.
Econoday: “Manufacturing may be regaining momentum. While civilian aircraft added huge lift to December durables orders, gains were broad based. New factory orders for durables in December jumped a monthly 4.6 percent, following a boost of 0.7 percent in November. The median market forecast was for a 1.6 percent increase.”