Business Capital Spending Continues to Show Weakness

Business Capital Spending Continues to Show Weakness

Business Capital Spending Continues to Show Weakness

$DIA, $SPY, $QQQ, $VXX

US single-family home prices rose slightly less than expected on an annual basis in June, and were down from the prior month, a survey showed on Tuesday.

The S&P CoreLogic Case-Shiller composite index of 20 US Metro areas rose 5.1% in June on a Y-Y basis, retreating from the 5.3 -% climb in the prior month and short of the estimate calling for a 5.2% increase from a Reuters poll of economists.

“Overall, residential real estate and housing is in good shape,” said the Managing Director and Chairman of the index committee at S&P Dow Jones Indices.

The real estate sector and consumer spending are contributing to economic growth, but business capital spending continues to show weakness.”

Prices in the 20 US Cities fell 0.1% in June from May on a seasonally adjusted basis, the survey showed, matching expectations for a decline of 0.1%.

On a non-seasonally adjusted basis, prices increased 0.8% from May.

Home prices in 3 US cities: Denver, Seattle and Portland, Oregon showed the highest Y-Y gainers, the survey showed

Tuesday, the US major stock market indexes finished at: DJIA -48.69 at 18454.30, NAS Comp -9.34 at 5222.99, S&P 500 -4.26at 2176.12

Volume: Trade continues light with 736-M/shares exchanged on the NYSE

  • Russell 2000 +9.6% YTD
  • S&P 500 +6.5% YTD
  • DJIA +5.9% YTD
  • NAS Comp +4.3% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Bullish (0.27) Neutral (-0.13) Bullish (0.35) Very Bullish (0.58)
HeffX-LTN Analysis for SPY: Overall Short Intermediate Long
Neutral (0.20) Neutral (-0.06) Bullish (0.35) Bullish (0.29)
HeffX-LTN Analysis for QQQ: Overall Short Intermediate Long
Bullish (0.30) Neutral (0.08) Bullish (0.48) Bullish (0.33)
HeffX-LTN Analysis for VXX: Overall Short Intermediate Long
Bearish (-0.48) Neutral (-0.21) Very Bearish (-0.52) Very Bearish (-0.71)

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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