That's right! The Conference Board's Index of Leading Economic Indicators posts its fourth consecutive monthly increase, but it also revises the June print by tacking on an additional 0.1%.
The Conference Board's economist Ken Goldstein had this to say to Reuters: "The indicators suggest that the recession is bottoming out and that the economic activity will likely begin recovering soon."
Oh, how we like hearing that kind of news. And, with Existing Homes Sales data due out tomorrow (10:00am NYT)--and the number certain to please on the upside--we could be entering a very comfortable state of consumer and investor confidence leading into the final two weeks of summer.
As we've said before, don't uncork the champagne just yet--but definitely get it on ice, because we're on deck for some good times ahead!
Todd M. Schoenberger, Managing Director
LandColt Trading, Inc.