Dem Staffer Who Filmed His Sexcapades in a Senate Hearing Room Later Checked...
NYC Mayor Eric Adams Tries to Cooperate With ICE. State Judge Stops Him.
Wife of Former Sen. Bob Menendez Found Guilty in Bribery Trial
The Pentagon Leakers Might Want to Lawyer Up
Flawed Study's Ridiculous 'Finding' Gets Called Out by Parkland Victim's Father
How Trump Handled Biggs Entering the AZ Governor's Race After He Already Endorsed...
The White House Responds After Harvard Files Lawsuit Against Trump Administration Over Fun...
Harvard Presidents—On Sale at Macy's
Van Hollen's Post From 2017 on MS-13 Comes Back to Haunt Him
Trump’s Example to the World: Cull Activists to Achieve Energy Abundance
Pope Francis' Cause of Death Has Been Revealed
Homeland Security Sets the Record Straight About Those German Teens Who Were ‘Deported’...
Scott Jennings, Mike Lawler Offer Crucial Reminders About Funding for Harvard in Light...
Dylan Mulvaney Plans on Leaving the US. Here's Where He's Headed.
Exposed: Another Bogus Immigration 'Controversy' Falls Apart
OPINION

What Washington Suing Amazon Means For The Market

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
AP Photo/Mark Lennihan, File

The market came out the gate with the kind of caution we have become accustomed of late.  Growth was leading the way until news that the city of Washington, D.C. is suing Amazon over its business practices.   It looked like Amazon (AMZN) was going to take off, but not anymore.  The news is a reminder of political risks, but it’s not a major financial blow in of itself.

Advertisement

AMZN 5-day chart


Housing Boom Slowing?

This morning, more economic data releases missed Wall Street consensus.  New Home sales came in at annualized rate of 863,000 from 917,000, which was a major revision lower from 1,021,000.  Prices climbed to $372,400 from $310,100 a year earlier. 

To see the chart, click here.

Future Confidence Waning

Consumer confidence of 117.2 was below consensus of 119. Consumers appear to really be worried about where things will be six months from now.

Consumer Confidence

May

Apr

Present Conditions

144.3

131.9

Expectations

99.1

107.5

To see the chart, click here.

Interestingly all these developments are positive for the stock market, as they chip away at the notion of an overheated economy beyond the inflation surge.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement