Chillin' out till it needs to be funded
One half expected Factory orders to start seesawing the way all US economic data has become a middling incoherent hash of one up one down like the construction spending report for February yesterday but Factory orders were up a good 1.5% , up for 3 out of the last 4 reports including big bangs in November and December
Not that equities were bothered for a wee bit, used to ignoring Spain, Portugal and now US’ own Housing recovery data The ICSC retail sales number however reported a big fillip to consumption from the Easter Holiday even as Economic prognosis tries to get the salted meats ready for the dampness in Economic data now that winter’s push is also gone. Goldman Sachs ICSC data scored a fat 3.8% jump for the week and yet fatter 4.2% for the month from the anemic below 3 scores fo last three-four weeks.
And lest you thought it was all grocers stocking up for Easter, the Redbook jump was indeed higher, closer to the 2011 pet target of 5% at 4.8%
Private payrolls try to second guess the BLS Employment Situation report of Friday tomorrow and then there is the Services Index which is likely to be the stronger indication for 2012 without any further QE in the works.
And well, this report is not in at 830 ET because well, there does not seem to be anyone on the NYSE floor…!