Today's economic news shows mixed results for the US economy

Jay Soloff

Argonath Financial

Today's economic news shows mixed results for the US economy. On one hand, consumer confidence climbed higher than expected. The Consumer Confidence Index jumped from 89 last month to 94.5 in October. The median forecast from economists was 87. A favorable view of the current job market and business conditions helped drive the improvement. On the other hand, durable goods once again missed expectations. New orders for durable goods dropped 1.3%, while economists projected a 0.5% increase. Minus transportation, the number dropped just 0.2%, but excluding defense, new orders dropped 1.5%. Lower demand for machinery and computer equipment drove the unexpected decline. However, it's important to keep this in perspective. Durable goods order are still 7.6% higher than at this time last year. In other words, still no reason to raise any red flags on the economy. (VIEW LINK) (VIEW LINK)

Jay Soloff
Jay Soloff
Research Analyst
Argonath Financial

I'm an investments analyst for a US-based independent investment research firm. My focus is on economics, options, and all types of stocks, but especially tech, Internet, and renewable energy companies. I have experience as a options market...


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