This Too Shall Pass

Housing starts and permits both fell, with starts missing expectations by a mile. Philadelphia Fed index also fell and saw a big miss. Capacity utilization and industrial output both missed and fell. So, naturally, the OPEX-obsessed S&P 500 futures are up 10 points.

If things seem a little upside down at this point, know that this will pass very soon.  If only Grandpa Kudlow’s diatribe would…

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