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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (8254)	6/24/2004 9:26:01 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

NEW YORK (CNN/Money) - The number of Americans filing for unemployment benefits increased last week, the government reported Thursday, as the closely watched reading came in above in line with Wall Street expectations. There were 349,000 people filing for initial unemployment benefits in the week ended June 19, up from the 336,000 who filed the previous week. Economists surveyed by Briefing.com forecast initial claims would rise to 340,000 in the most recent period. money.cnn.com

To: Haim R. Branisteanu who wrote (8254)	6/24/2004 9:28:01 AM
From: mishedlo	Respond to of 116555

WASHINGTON (Reuters) - U.S. orders for durable goods posted an unexpected drop in May, a government report showed on Thursday, as weakness in demand for autos dragged the measure lower for a second straight month. The Commerce Department said orders for durable goods -- those meant to last at least three years -- fell 1.6 percent in May after a revised 2.6 percent decline in April. Excluding transportation-related orders, however, orders were off a smaller 0.7 percent, Commerce said. The slide took Wall Street by surprise. Analysts had been looking for a 1.4 percent gain in May. The declines in May and April were the first back-to-back monthly drops in durables orders since November and December 2002, according to Commerce, and may raise doubts about the U.S. factory sector's recent revival. Many analysts, however, see the durables report as very volatile and subject to large revisions. Transportation orders fell by 4.1 percent in May as a 4.0 percent decrease in orders for autos and parts more than offset gains in demand for civilian and military aircraft. May's decline was not limited to transportation. Orders for computers and electronic products, machinery and fabricated metals all fell, while primary metals demand posted a 3.6 percent increase in orders. biz.yahoo.com