A Fine Line

Good morning. August durable goods orders fell 0.5% and premarket futures have a slightly bearish bias in response. While weak economic numbers will help increase the "interest rate cut" chatter already starting to build, there is a fine line between wanting to see some softness in the economy so the Fed can stay on hold (or start cutting rates again) to outright concern that the economy is slowing down too quickly.

We've see our fair share of window dressing already and with the Dow just 54 points away from setting a new all-time record I'm sure there is an urge to press higher. If my email is any indication, there are a lot of skeptics out there who don't trust what they're seeing on their screens and, as we know, that tends to provide even more fuel to the fire. Gainers in premarket trading include DBRN, FOXH, DIVX, FDRY, ACGY, SEPR, AEHR, OSUR, AAUK, OPWV, and ASMI. Decliners are RHAT, ACOR, PAYX, PLXS, RACK, CECO, OVTI, and MLNM.

Next up? The reports on new home sales at 10:AM and the EIA Petroleum at 10:30. Stay frosty!