Confidence, Core Competencies, And CAT Naps

Confidence, Core Competencies, And CAT Naps

Are the "fundamentals" sound? The answer on Tuesday was: "It's complicated." Durable goods orders beat, climbing 1.9% for September, nearly four times consensus, while core orders rose 1%, also better than economists predicted. Core shipments ticked 0.3% higher, down considerably from August, and slightly less than the market was looking for. All in all, a decent report that does nothing to change the macro narrative or otherwise undermine the contention that manufacturing is on the mend in
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