Business

A huge upside surprise for durable goods orders (+6.5% MoM vs +3.9% MoM) was dominated by a 19% spike in transportation (with non-defense aircraft orders up 131.2% MoM)

Up from $11bn to $25.3bn...

New orders for manufactured durable goods in June increased $14.9
billion or 6.5 percent to $245.6 billion, the U.S. Census Bureau
announced today. This increase, up following two consecutive monthly
decreases, followed a 0.1 percent May decrease.

Submitted by Bill Blain of Mint Partners

Are We In A Bubble About To Burst, Or Are We Facing Massive Equity Upside?

“A liberal is a conservative who has been arrested.”

Gold A Store Of Value In $217 Trillion Global Debt Bubble 

There was some good news and a lot of bad news in the just released Twitter results.

First the good news: the company reported Q2 Revenue and EPS of $573.9MM and $0.08, beating already depressed expectations of $537.2MM and $0.05.

The levitation continues with S&P futures pointing to - what else - another higher open while European stocks swung between gains and losses on the busiest earnings days of the year (85 of the Stoxx 600 report) which has seen European pharma giant AstraZeneca plunge 15%, the most on record, after its flagship lung cancer trial Mystic failed to show benefits, while Deutsche Bank slumped 4% on a 12% plunge in FICC revenue.