Durable Goods, Consumer Sentiment Below Expectations - Adviser Investments

Durable Goods, Consumer Sentiment Below Expectations

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Wednesday, November 21. The Dow Jones Industrial Average lost a 200-point mid-day gain and closed with fractional losses while the S&P 500 and NASDAQ advanced 0.3% and 1.0%, respectively. Meanwhile, the Commerce Department reported a 4.4% drop in durable goods orders during October. Similarly, the University of Michigan’s November survey of consumers fell more than economists anticipated yet still remains near a record high. Although both durable goods and consumer sentiment came in below expectations, Jim notes that they continue to indicate a “slow growth, not no growth” economic trajectory.

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