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heavy trucks, silver, and endorphins

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By davefairtex
March 5, 2023

heavy trucks, silver, and endorphins

Peak Insiders
By davefairtex on
March 5, 2023
37

Four economic reports this week: Auto/Light Truck Sales: -6.2% m/m, heavy truck sales: -11.9% m/m. Durable Goods: new orders -4.5 m/m, prior +5.1% m/m, shipments -0.1% m/m. ISM Services Index: 55.1 (flat = 50.0). PMI Manufacturing Index: 47.3 (flat = 50.0). So ISM Services remains hot, there’s a contraction in manufacturing, durable goods could be topping out, auto sales weakened somewhat, but the heavy truck component of auto sales fell substantially. Heavy Truck sales appear to be a leading indicator for recessions.  Back in 2007, heavy truck sales fell off a cliff, and one year later, presto – we were

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