Matt The Asian markets were mixed, HK +0.83%, Shanghai +0.17% and Japan -0.04%. A Chinese service reported cell phone sales down 30% in February for the industry..
European markets were up, Euro STOXX +0.38% and DAX +0.65%. The German Consumer Confidence improved a bit, -27.4 from -29.0.
In the U S, Durable Goods Orders rose 1.4% from -6%, as forecast, Core Capital Goods Orders increased 0.7%, but last month was revised down 0.4%.
Case-Shiller Home Prices rose 6.6% y/y from 6.1% last month.
Consumer Confidence was 104.7 from a revised down 104.9, originally 106.7.The Inflation
Expectations edged up to 5.3 from 5.2.
The Richmond Fed Index fell to -11 from -5.
The Philly Fed non manufacturing survey was -2.3 from +0.8.
S&P 500 -14.61, -0.28% to 5,230.58.
After a 5,230 open, it drifted gradually to 5,025 by 2 PM. A slow churn turned into aggressive selling in the last half hour.to close at 5,203.
The market was subdued today. It could get a good rally going and gave away in the last half hour. The economic data was mixed.
There were sideshows. Trumps SPAC surged on massive short covering on an a grossly overvalued company. STX jumped 7.5% on analyst buy on AI potential. BA was listed on the watch list for a downgrade in credit rating.
The DJIA slid 0.44%. The NASDAQ was down 0.27% and the QQQ 0.36%.The IWM was -0.18%.
WTI declined $0.33 to 81.62. There was little news on oil today. The XOP was up 0.25% and XLE fell 0.8%.
The 10 yr T bond rate churned in a narrow range, ending down 0.2 of a bp to 4.232%. The KBWB was +0..1%. The XLU gave back 1.1%.
The VIX was +0.4% to 13.24. The declines led today, the NYSE 1.25 to 1 and the NASDAQ 1.35 to 1. The volume was average.
Some perspective.
The chart below shows a record high bullish in the Consensus Service, a widely used trader service.
Blub
Jerry