http://MikesDailyMarketReport.com: Durable Goods Orders dropped 2.1% in April, and it's March's number was revised lower, from 2.6% to 1.7%. The big drop was led by lack of Boeing orders (this is after the grounding of their 737 airplanes). If you remove the Transportation, the Durable Goods would be flat. The Core Capital Goods Orders dropped 0.9% in April, as the index reflects Business Investment. This is the first drop in 4 months. Stocks are trading Up this morning on cautious optimism based on a comment by President Trump that he may allow the standing of Huawei to be negotiated into a larger Trade pact with China. Also, the PM Theresa May of the UK has announced that she will resign from her post in June, as she's had several failed attempts to garner the support on the terms of the UK's divorce from the EC. They have until October 31st to come to terms. MBS is down 3bps, so there's no change in Mortgage Rates. Yields remain at 2.33%.
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