Thursday, all three major stock indices were higher yesterday. There were a number of distractions yesterday but investors were encouraged. RNC convention, hurricane(s), riots, corona virus and more there was plenty to distract people.
One thing most people were not watching but may be the most important news yesterday was the durable goods order report which was out yesterday. One of the components of durable goods is orders for motor vehicles. What are the two major contributors to the US economy? Autos and housing are hot and we'll explain the impact.
Fed Chairman Powell speaks at Jackson Hole today and he is expected to reveal the Fed's outlook for inflation.