Durable Goods Orders Rose 0.7% in June, Topping Expectations Amid Lagging Shipments Jul 25, 2014 11:01AM

Durable goods orders rose 0.7 percent to $239.9 billion in June, topping expectations of a 0.5 percent gain.

The U.S. Census Bureau reported that it was the fourth of the last five months for an increase in the reading.

Excluding transportation, new orders increased 0.8 percent, versus a 0.5 percent increase expected by economists.

Shipments of manufactured durable goods in June, up four of the last five months, increased $0.3 billion or 0.1 percent to $238.2 billion. This followed a 0.1 percent May decrease.

Inventories of manufactured durable goods in June, up fourteen of the last fifteen months, increased $1.6 billion or 0.4 percent to $399.7 billion. This was at the highest level since the series was first published on a NAICS basis and followed a 1.0 percent May increase.


UPDATE: IMF Cuts Global Growth Outlook to 3.4% Jul 24, 2014 11:08AM

(Updated - July 24, 2014 11:08 AM EDT)

IMF sees 3.4 percent world growth this year, versus 3.6 percent in April.

UPDATE - Some highlights from the updated World Economic Outlook:

• The global growth projection for 2014 has been marked down by 0.3 percent to 3.4 percent, reflecting both the legacy of the weak first quarter, particularly in the United States, and a less optimistic outlook for several emerging markets. With somewhat stronger growth expected in some advanced economies next year, the global growth projection for 2015 remains at 4 percent.1/

• Global growth is expected to rebound from the second quarter of 2014, as some of the drivers underlying first quarter weakness, such as the inventory correction in the United States, should have only temporary effects, and others should be offset by policies, including in China. But the first-quarter setback will only be partially offset.

• Downside risks remain a concern. Increased geopolitical risks could lead to sharply higher oil prices. Financial market risks include higher-than-expected U.S. long-term rates and a reversal of recent risk spread and volatility compression. Global growth could be weaker for longer, given the lack of robust momentum in advanced economies despite very low interest rates and the easing of other brakes to the recovery. In some major emerging market economies, the negative growth effects of supply-side constraints and the tightening of financial conditions over the past year could be more protracted.

• In many advanced and emerging market economies, structural reforms are urgently needed to close infrastructure gaps, strengthen productivity, and lift potential growth.


UPDATE: IMF Cuts Global Growth Outlook to 3.4% Jul 24, 2014 11:08AM

(Updated - July 24, 2014 11:08 AM EDT)

IMF sees 3.4 percent world growth this year, versus 3.6 percent in April.

UPDATE - Some highlights from the updated World Economic Outlook:

• The global growth projection for 2014 has been marked down by 0.3 percent to 3.4 percent, reflecting both the legacy of the weak first quarter, particularly in the United States, and a less optimistic outlook for several emerging markets. With somewhat stronger growth expected in some advanced economies next year, the global growth projection for 2015 remains at 4 percent.1/

• Global growth is expected to rebound from the second quarter of 2014, as some of the drivers underlying first quarter weakness, such as the inventory correction in the United States, should have only temporary effects, and others should be offset by policies, including in China. But the first-quarter setback will only be partially offset.

• Downside risks remain a concern. Increased geopolitical risks could lead to sharply higher oil prices. Financial market risks include higher-than-expected U.S. long-term rates and a reversal of recent risk spread and volatility compression. Global growth could be weaker for longer, given the lack of robust momentum in advanced economies despite very low interest rates and the easing of other brakes to the recovery. In some major emerging market economies, the negative growth effects of supply-side constraints and the tightening of financial conditions over the past year could be more protracted.

• In many advanced and emerging market economies, structural reforms are urgently needed to close infrastructure gaps, strengthen productivity, and lift potential growth.


Natural Gas Inventory 90 bcf vs 96 bcf Expected Jul 24, 2014 10:30AM

Natural Gas Inventory 90 bcf vs 96 bcf Expected

Traders are watching United States Natural Gas ETF (NYSE: UNG).


UPDATE: Crude Inventory -4M Barrels vs -2.4M Expected Jul 23, 2014 10:34AM

(Updated - July 23, 2014 10:34 AM EDT)

Crude inventory for the week ending July 18 declined 3.97 million barrels vs a decline of 2.4 million expected.

Cushing inventory declined 1.45 million barrels.

Gasoline inventory gained 3.38 million barres vs a gain of 1.13 million expected.

Distillate increased 1.64 million barrels vs a gain of 1.84 million expected.

Traders are watching United States Oil Fund ETF (NYSE: USO).


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