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Major Economic Indicators Continue To Be 'Mixed'

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Louis Navellier


  • The Commerce Department announced that sales of new homes declined 6.6% in June to an annual pace of 676,000, which is a post-pandemic monthly low. May’s new home sales were revised lower to an annual pace of 724,000, down from 769,000 previously reported.
  • Durable goods orders rose 0.8% in June as orders for commercial planes and vehicles rose. Durable goods orders have now risen in 13 of the past 14 months and are expected to remain strong, since order backlogs persist due to supply chain bottlenecks.
  • The Conference Board announced that its consumer confidence index rose to 129.1 in July, up from 128.9 in June, reaching the index’s highest level since February 2020. This was a big surprise, as economists expected consumer confidence to drop to 123.9 in June after the University of Michigan’s preliminary consumer sentiment index declined.
  • Thebiggest news last week was that Wednesday’s FOMC statement said that“progress” had been made towards meeting its goal and that the Fed wouldcontinue its $120 billion per month in quantitative easing until “substantialfurther progress.”.

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The Major Economic Indicators Continue to Be “Mixed,” Allowing Further Fed Accommodation

The economic news last week continued to be “mixed.” The Commerce Department announced that sales of new homes declined 6.6% in June to an annual pace

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Navellier & Associates was founded by Louis Navellier in 1987 and since then has guided thousands of investors by applying our disciplined, quantitative investment process to a broad range of equity products. Every day, investors hire Navellier to manage their assets in a private account, mutual fund, or defensive portfolio. For over 25 years, we’ve been zeroing in on opportunities for long-term growth. We employ a veteran team of investment and client service professionals who deliver exceptional, personal service and industry-leading information to our clients. _________________________________ Important Disclosures that Accompany Navellier & Associates Articles: *Navellier may hold this security in one or more investment strategies offered to its clients. None of the stock information, data, and company information presented herein constitutes a recommendation by Navellier or a solicitation of any offer to buy or sell any securities. Any specific securities identified and described do not represent all of the securities purchased, sold, or recommended for advisory clients. The reader should not assume that investments in the securities identified and discussed were or will be profitable. Information presented is general information that does not take into account your individual circumstances, financial situation, or needs, nor does it present a personalized recommendation to you. Individual stocks presented may not be suitable for you. Investment in securities involves significant risk and has the potential for partial or complete loss of funds invested. One cannot invest directly in an index. Results presented include the reinvestment of all dividends and other earnings. Graphs are for illustrative and discussion purposes only. Although information has been obtained from and is based upon sources Navellier believes to be reliable, we do not guarantee its accuracy and the information may be incomplete or condensed. All opinions and estimates constitute Navellier's judgment as of the date of the report and are subject to change without notice. This report is for informational purposes and is not to be construed as an offer to buy or sell any financial instruments and should not be relied upon as the sole factor in an investment making decision. Any decision to purchase securities mentioned in this research must take into account existing public information on such security or any registered prospectus. Past performance is no indication of future results. FEDERAL TAX ADVICE DISCLAIMER: As required by U.S. Treasury Regulations, you are informed that, to the extent this presentation includes any federal tax advice, the presentation is not intended or written by Navellier to be used, and cannot be used, for the purpose of avoiding federal tax penalties. Navellier does not advise on any income tax requirements or issues. Use of any information presented by Navellier is for general information only and does not represent tax advice either express or implied. You are encouraged to seek professional tax advice for income tax questions and assistance.

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