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Durable Goods Orders Down

Not a good macroeconomic sign. If we still had the manufacturing-based economy of the 1960s, we would now be in a recession. As it is...

Today's Markets - WSJ.com: Early Tuesday, the Commerce Department said January durable-goods orders fell 7.8% to a seasonally adjusted $203.90 billion. The decline in orders surprised economists, who expected a 3.2% drop. Timothy Rogers, chief economist at Briefing.com, pointed to a decrease in capital-goods orders, "the bread and butter of the manufacturing side," as an area of particular concern. "I think it's just a mid-cycle stall," he added. "The fundamentals are still strong."

If I were the Federal Reserve, I'd be a-cuttin interest rates next meeting...

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