THis can't be good news for HD can it ? does hd sell durabel goods ? do you think next quarter hd will have better earnings ? will you be snookered out of your gains ?
"Shipments of non-defense capital goods orders excluding aircraft, which go into the calculation of gross domestic product, fell 3.1 pe rcent in January, the biggest decline since April 2009."
Durable WASHINGTON (Reuters) - New orders for long-lasting U.S. manufactured goods fell in January by the most in three years as d emand slumped across the board, suggesting the economy started the year on weaker footing than expected. Durable goods orders drop ped 4 percent, the biggest decline since January 2009 when the country was still mired in a deep recession, accordi ng to Commerce Department data on Tuesday. "It is not a great start to January," said David Watt, a currency strategist at RBC Capital in Toronto. range from toasters to big-ticket items like aircraft, which are meant to last three years and more. Excluding transportation, orders fell 3.2 percent. Eco nomists had expected that reading to be flat. Machinery orders dropped 10.4 percent, the largest decline since January 2009. Major U.S. stock indexes opened mixed, while prices for U.S. government bonds rose. Non-defense ca pital goods orders excluding aircraft, a closely watched proxy for future business investment, fell 4.5 percent, the steepest drop in a year.
Orders for motor vehicles edged up 0.9 percent. Shipments of non-defense capit al goods orders excluding aircraft, which go into the calculation of gross domestic product, fell 3.1 percent in January, the biggest decline since April 2009.
HD to $ 50. no matter what econ data shows. HD and other home builders are part of the recovery lie that Ben and GS want to sell. It's all fraud. It's all good. Really, no need to read or post on this message board. Go find your own board. There's nobody here, just 3 or 4 idiots ... including myself. HD to $ 50. That's all you need to know.
Economists attributed much of the decline in January to the end of the tax credit. They noted that demand for core capital goods hit an all-time high in December as most companies raced to qualify for the tax credit. Many said the underlying trend remained strong and predicted further business investment in the coming months.
Sorry HD was up on your "bad" news, which was really a statistical aberration caused by tax credits. Hope you got out quick. Maybe you should rethink shorting Blue Chips for awhile, eh? Go long tomorrow around $47 and make some of your money back.