Weak Durable Goods Report Masked by Auto and Plane Demand
Durable goods orders rose 1.2% in December, but the surge came from a rise in demand for the volatile components of autos and airplanes, with weakness seen in other key manufacturing segments as well as business investment.
Boost for Housing as Index of Builder Sentiment Exceeds Expectations, Gold Nears 2.5 Year High
Builder confidence in the market for newly-built single-family homes rose higher than expected, gaining 4 points from 58 to 62 in February according to the most recent National Association of Home Builders Housing Market Index.
US Consumer Sentiment Higher Than Expected in February
According to the University of Michigan Consumer Sentiment Index, US consumer sentiment shot up by more than expected in February following the end of the partial shutdown of the US government and the Federal Reserve signaling that it would be lenient with interest rate hikes for 2019.
Gold Price Rises as US Industrial Production Misses Mark in January
US Industrial Production declined -0.6% in January, unexpectedly sinking when analysts were predicting a 0.3% increase. December production was revised down from 0.3% to 0.1%.
Gold Holds Strong Gains as NY Empire State Manufacturing Survey Rebounds Above Expectations
Business activity in New York State has recovered slightly according to the latest index which came in at 8.8 compared to 7 expected according to the New York Federal Reserve.
Gold Price Rises as Retail Sales Drop to 9-Year Low
December retail sales have unexpectedly crashed to a 9-year low with a 1.2% decline fueling concerns among market analysts and participants.
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