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Thursday, May 24, 2007

Mixed day in the Majors!

With the US Durable Goods, Initial Claims and New Home Sales releases today, many fundamental traders were waiting for direction in a relatively quiet week. Today’s Durable Goods reading posted 0.6% versus an expected 0.9%. The current trend for durable goods orders has turned to an annual decline of -2.0%, as business capital investment stalled in mid-2006. Read More....