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Strategies & Market Trends : Can you beat 50% per month? -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (11047)	6/27/2007 8:37:11 AM
From: Smiling Bob	Respond to of 19256

Doesn't look like the fed will be talking much about raising rates. -- =DJ DATA SNAP: Durable Goods Orders Far Below Expectations .=============================================================== May Durable Goods Orders: May Apr ! Consensus: ! Total Orders: -2.8% +1.1%r ! -0.8% ! Ex-Transportation: -1.0% +2.5%r ! Actual: ! Ex-Defense: -3.2% +1.2%r ! -2.8% ! =============================================================== By Jeff Bater Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--Demand for expensive goods lost a lot of steam in May, taking a fall that was much bigger than expected and extended into most categories of products. Orders for durable goods decreased by 2.8% last month to a seasonally adjusted $213.02 billion, the Commerce Department said Wednesday. Durables, which are goods designed to last at least three years, rose 1.1% in April, revised from a previously estimated 0.8% increase. A key barometer of business equipment spending - orders for non-defense capital goods excluding aircraft - fell by 3.0%, after increasing 2.3% in April. Year over year, orders were down 1.4%. May shipments for non-defense capital goods excluding aircraft dipped in May by 0.2%, after rising 0.9% in April; the shipments are used in calculating gross domestic product, which is the barometer for economic growth in the U.S. Wall Street expected a drop in overall durables for May because demand had gone up in the prior three months. But the 2.8% decrease far exceeded expectations. The median estimate of 26 economists surveyed by Dow Jones Newswires had durables 0.8% lower in May. The last time durables had fallen was a drop of 6.1% in January. Demand during May for durable goods in the transportation sector decreased 6.8%, after falling 1.8% in April. Orders for commercial planes tumbled 22.7%, while military aircraft orders rose 9.8%. Motor vehicles and parts increased by 2.3% last month. Demand for all durables except transportation goods decreased 1.0% in May. Orders fell by 3.6% for primary metals, 1.0% for fabricated metals, 3.9% for electrical equipment, and 1.6% for machinery. Demand rose 1.8% for computers and electronics. Demand ex-transportation had gone up 2.5% in April. May capital goods orders decreased by 7.0%. Non-defense capital goods - items meant to last 10 years or longer - dropped by 8.3%. Defense-related capital goods orders climbed 6.7%. Orders for everything except defense goods dropped by 3.2% in May, after going 1.2% higher during April. Durable-goods shipments of manufacturers went 0.4% higher last month. Unfilled orders, a sign of future demand, rose 0.8%. Inventories increased 0.2%. -By Jeff Bater, Dow Jones Newswires; 202-862-9249; jeff.bater@dowjones.com