Imports rose to a record 177.2 billion, while exports also increased, to a record 111.5 billion. This creates a higher probability that the advance fourth-quarter gross domestic product will not be upgraded substantially higher, since a higher trade deficit subtracts from GDP.
More Quotes from Paul Mendelsohn:
We're back to the point where a good payroll number will be seen as bad, ... particularly since (Treasury) bonds have been setting up to sell off.Paul Mendelsohn
Hopes for a good report on consumer confidence today is helping stock futures this morning. Any signs of higher confidence, which turn into higher spending, will be supportive to the markets.
Paul Mendelsohn
The employment situation is always a market mover because it is one of the Fed's favorite indicators when it comes to designing their policy statement.
Paul Mendelsohn
We're at pretty high levels on the indexes, there's a lot of economic news coming out over the next few days, and Friday is a quadruple witching day, all of which is adding to the volatility and the pullback.
Paul Mendelsohn
It's going to be a really busy day. All of this means you're probably going to see a lot of volatility.
Paul Mendelsohn
This is the first crack in the home building area. Home building has really driven a large portion of this economic advance, and any drop in this area of the market would have very powerful ramifications for GDP growth.
Paul Mendelsohn
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