Orders for Durable Goods Drop Again

Posted by Louis Navellier on 4/24/08 11:01 am

Orders for durable goods dropped for the third straight month in March, something that hasn’t occurred since 2001.  However, some analysts were encouraged by the fact that core capital goods orders (a good indicator of business spending) were flat.  Interestingly, several analysts believe the Fed will cut the fed funds rate by only 25 basis points (0.25%) at its next FOMC meeting on April 29/30.  I still think we’ll get a 50 basis point cut because Treasury yields are still very low.

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