669 days ago • Posted by Paul de La Baume
#Jobless claims, #housing worst than expected #markets #trading #stocks $SPY $QQQ
US economic data from building permits, housing starts, Philly Fed Manufacturing, and jobless claims, showed worst economic conditions than expected, a sign, that the economy is decelerating (faster than economists expected). Stocks are largely down in US pre-market (1.7% for the S&P500) as investors use every uptick to reduce positions, worried the economy will fall into a recession and downward earnings revisions are still ahead of us. The sentiment is weak and markets continue to be oversold.
