For the news stations, the leading index fell for the 16th consecutive month. The index fell -0.4% vs -0.4% expectations. Last month the index fell -0.7%.
The index is supposedly pushing toward a recession. At this point, it is the boy that cried wolf but perhaps at some point it will be right.
Meanwhile, the NASDAQ index has turned negative. It is currently down -20 points or -0.15% at 13454.06. The down – leverages holding onto a gain of 108 points or 0.32%. The S&P index is up 8.7 points or 0.20%
The Atlanta Fed GDPNow is currently modeling 5.8% growth for the 3Q. Even if it is "crazy" as Steve Leesman from CNBC just called it, it is still higher.
The Fed's Jackson Hole Summit will commence on August 24 to August 26.
The US 10 year yield is up to 4.301% up 4.4 basis points.