Markets Still Sound
May 27, 2015
Markets still sound. Yesterday was a full day of economic data. The Purchasing Managers’ Index, durable goods orders and even consumer confidence all came in as expected or better. New home sales increased as did home prices. So why did the market swoon? The stock market has essentially been range bound for much of this year and this may continue until definitive data ignites continued confidence. We are buying opportunistically and we believe this market can move higher.