Durable goods orders tumbled 5.2% in January, much worse than the expected drop of 2.5% and December's decline was revised sharply larger. Ex-transportation, orders fell 2.5%, versus the forecast of a 2.2% decline.
The new home sales report for January showed that sales declined 10.2% month-over-month to 309,000 units on an annualized rate. Year-over-year, new home sales fell 48%.
The Dow Jones Industrial Average fell 89 points (1.2%) to close at 7,182, the S&P 500 Index lost 12 points (1.6%) to 753, and the Nasdaq Composite decreased 34 points (2.4%) to 1,391. Crude oil rose $2.72 to $45.22 per barrel, and gold fell $8.15 to $945.68 per ounce.
Magnificent Seven Update
Daily Update Of Open Positions...Stocks & ETFs
