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Durable Goods Orders Stumble In November - Business Spending Drops Most Since 2016

Durable Goods Orders Stumble In November - Business Spending Drops Most Since 2016

Headline durable goods orders rose 1.3% in November (prelim), missing expectations of a 2.0% rise, but core durable goods fell in the preliminary November print - the worst drop since April.

Perhaps even more concerning is the 0.1% drop in capital goods new orders ex-aircraft and parts - i.e. business spending - this is the equal weakest print in 2017.

Cryptocurrency Heatmap: A Sea Of Red

Cryptocurrency Heatmap: A Sea Of Red

Following the most agressive drop in Bitcoin in almost three years (plunging 37% from its highs in 5 days)... Bitcoin is now down over $7000 from its highs...

Every bounce is sold...

Surveying the damage this morning is nothing short of a bloodbath

Source

If one looks carefully, one can find a few glints of green - Tether, NXT, Komodo, Bitcoin Dark, and SmartCash but they are all microcap.

Futures and spot fell together with various circuit-breakers kicking in...

Subway Closes 909 Stores In 2017: It's The "Beginning Of A Crisis"

Subway Closes 909 Stores In 2017: It's The "Beginning Of A Crisis"

Earlier this year, we reported that in its 52-years of operation sandwich chain Subway - for the first time ever - contracted in 2016, closing 359 U.S. locations. Bloomberg described the situation as the “biggest retrenchment in the history of the restaurant chain” whose total store count dropped 1.3% from 27,103 in 2015 to 26,744, while the company failed to keep up with the latest fast-food eatery trends.

"This is Groundhog Day": Spanish Stocks Battered By Catalan Vote, Bitcoin Crashes

"This is Groundhog Day": Spanish Stocks Battered By Catalan Vote, Bitcoin Crashes

Spanish stocks and the euro fell, while Spanish government bond yields hit their highest levels in over a month after Catalan secessionists delivered an unexpected blow to the government of Spanish PM Rajoy by winning the Catalan regional election. Meanwhile across the Atlantic, U.S. equity futures and the dollar rose on the last trading session before the Christmas holiday. The MSCI index of world stocks was flat.

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