What happened to cause markets to hit the skids Wednesday?
First Durable Goods Orders plummeted -1.4% vs 0.7% expected & prior 2%. Ex-Transportation -0.4% vs 0.3% expected & prior 0.3%.
This will certainly lead to a sharp decline in Friday’s GDP report. The bad news seals the fate the economy is weakening when combined with most other economic reports.
The bad news is good mantra will be sorely tested.
The SEC is requiring High Frequency Trading Firms (HFT’s) to register with FINRA which leads the way for more scrutiny of their trading methods if regulators would be sophisticated enough to understand their methods.
A government agency, The Office of Financial Research Agency (never heard of