February 27, 2017
Hard data on the factory have been soft in strong contrast to anecdotal factory reports which are unusually strong. Durable goods orders did rise 1.8 percent in January but the gain was tied to aircraft excluding which, and looking specifically at capital goods, orders were soft. Not soft is the Dallas Fed report for February where strong gains, like those for the Philly Fed, point to rising factory sentiment if nothing else. The pending home sales report is another set of important data and they point to new trouble for resales in a housing sector that's getting off to a bumpy start this year. Yet another fractional gain keeps the Dow's streak alive, up 0.1 percent for 12 straight gains at 20,837. Other markets were little changed.