Bleak economy stats drive markets down

Orders for durable goods were down 1.7% last month, after a 5.1% drop in January, according to the Department of Commerce.
MAR 26, 2008
By  Bloomberg
Stock prices dipped after the release of two bleak reports on the state of the economy. Orders for durable goods were down 1.7% last month, after a 5.1% drop in January, according to the Department of Commerce. The drop ran contrary to Wall Street expectations of an 0.8% increase. The loss was led by transportation goods and machinery. Sales of new homes also declined last month. A commerce department report showed a 1.8% drop in the sale of single-family homes in February. Inventories of new homes also fell to 471,000 homes, the lowest figure in 13 years, down from 481,000 sales in January. In response to these gloomy reports set markets tumbling in morning trading.

Latest News

Advisor moves: Osaic welcomes Valic veteran in Arizona, Janney hails $3.3B recruiting haul
Advisor moves: Osaic welcomes Valic veteran in Arizona, Janney hails $3.3B recruiting haul

Meanwhile, a father-son pair of advisors and ex-marines from ex-Edward Jones gives Kingsview its newest location in Arkansas.

Why more Americans are raiding their retirement savings for emergencies
Why more Americans are raiding their retirement savings for emergencies

New Vanguard and FINRA data show Americans increasingly vulnerable to financial shocks, with hardship withdrawals and cash-outs reaching a new high.

Retirement plans in flux: Why more Americans are reconsidering their exit timeline
Retirement plans in flux: Why more Americans are reconsidering their exit timeline

Many people have already continued working past their planned retirement date

Married retirees could be in for an $18,100 Social Security cut by 2032, CRFB says
Married retirees could be in for an $18,100 Social Security cut by 2032, CRFB says

A new analysis finds long-running fiscal woes coupled with impacts from the One Big Beautiful Bill Act stand to erode the major pillar for retirement income planning.

SEC bars New Jersey advisor after $9.9M fraud against Gold Star families
SEC bars New Jersey advisor after $9.9M fraud against Gold Star families

Caz Craffy, whom the Department of Justice hit with a 12-year prison term last year for defrauding grieving military families, has been officially exiled from the securities agency.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.