A few reports of interest (to me), from this past week.
https://www.census.gov/manufacturing/m3/adv/current/index.html
https://www.eia.gov/petroleum/weekly/crude.php
Much was made of the -9.3% drop in Durable Goods from May, but the spin doctors overlooked the +16.5% rise for the previous month. Year to date from 2024, is up 7.9%. Probably why the spin didn't last very long.
As for the petroleum sector, gasoline usage has fallen considerably on a 4 week moving average. Down -5.2% from year ago levels and -2.9% from last week. The inventory of gasoline slipped a bit, but the day's supply is increasing.
Probably why pump prices are staying stagnant, compared to my last forecast. Not sure why the drop, which could be indicative of a slowing economy, although much of that data is contradictory.
In any case, the sharp drop off is unexpected, at least to me.
Some meaningless thoughts...
The Late Show... I stopped watching the late show, early on in Colbert's tenure. His brand of humor did not match mine. Why the show is being canceled is beyond my realm of thought. Even if it were, I am not part of that important demographic.
Epstein files... I would have thought any Trump connections would have been exposed during his last term. Certainly during the Biden years. Perhaps the whole darn bunch have their names listed on... some yet to be released "file".
Clinton Saga... I am not a fan, but she is largely irrelevant, imho. It is good to know that most of the political back in forth is now focusing on days gone by. Maybe we will eventually move past all of this.
Or is the political news cycle a couple of decades behind?
