Economic Data Overview - Recent economic data has shown favorable trends, with GDP revised to 3.8% for the second quarter and personal consumption expenditures increasing from 1.6% to 2.5% [2] - Durable goods orders exceeded expectations, rising by 2.9% instead of the anticipated decline of 0.5%, while core capital goods also increased by 6% [2] Job Market Insights - Jobless claims have improved, dropping to 218,000, which is a positive trend compared to previous weeks where claims were above 260,000 [3] Government Spending and Economic Growth - Despite a decrease in government spending, real final sales to private domestic purchasers increased by 3.2%, and real gross output rose by 1.2% [4] - The economy is showing resilience and growth even as government involvement diminishes [4] Federal Reserve Commentary - There is a wide range of opinions among Federal Reserve speakers regarding the economy and interest rates, with some advocating for lower Fed funds rates [7][8] - Recent comments from Fed Chair Jerome Powell have contributed to market volatility, suggesting that the market may be reacting to perceived high valuations [9] Market Reactions - The market's decline, despite strong economic data, may be attributed to profit-taking and reactions to Fed comments [9]

Santelli. Hey Rick. Hi Carl and D.You are watching yields move lower on the curve and that is primarily because job openings and labor turnover known as jolts comes in on the light side. Expecting a number close to 7.4% million. This is a July read comes in 7,181,000.That would be the smallest job openings number going all the way back to d of 2020. Now if we look at factory orders for July comes in exactly as expected at minus 1.3% which is actually the strongest number since it was positive in May at over ...

But first, breaking economic data just crossing the tape. Rick Santelli has that for us. Hey, Rick.>> Yes, Leslie. Good morning. Factory orders.These are fresh June numbers expecting minus 4.8% and that's exactly what we get. Minus 4.8%. That would be the weakest since the first month of 2024.But I do want to point out in the rearview mirror, there's a bit of history. 8.2% 2% up for last month becomes 8.3% which makes it the second biggest number in the history of factory orders which dates back to 1956. So ...

First, let's get some breaking uh economic data just crossed. Rick Santelli has that for us. Rick.Yes. And there's a lot of it. If we look at the factory orders, durable goods, let's start there.Factory orders for May up 8.2%. Up 8.2%. I have five years here. I don't have a higher number. That is a huge number.And that follows a slightly revised minus 3.7% that moves to minus 3.9%. We started out the year in single digits. It certainly seems though this is telling us that all the trade pulled forward may in ...