A rebound to solid levels would indicate today's report was not the start of a trend, ... Another month near these levels would create some concern about the strength of the housing sector.
More Quotes from Joel Naroff:
That holds out hope that production can be maintained.Joel Naroff
The Fed will not shift its bias. Retail sales numbers for August, which they'll have in hand by the time of the meeting, will be pretty solid, so they will be facing essentially the same thing they've been facing for a while now -- the fundamentals are not that bad, but the stock market is,
Joel Naroff
The huge increases at apparel and general merchandise stores are eye-opening. You would think people had nothing to do but get to the malls.
Joel Naroff
Imports are creating some inflationary pressures but they don't appear to be that great.
Joel Naroff
We shopped the world's markets until we dropped. We bought a lot more of everything.
Joel Naroff
The trade deficit, if you can still use the term deficit to describe the GDP of a small country, just keeps getting wider. This is the Energizer bunny on steroids as it keeps growing and growing and growing.
Joel Naroff
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