Market comments for Aug. 24th, 2011

The news release of importance today is Durable Goods Orders. I have posted below a chart of the Durable Goods orders since 2005 so that you could compares today's released data for July. Expectations were for July to come in at +2.5% and June's data came in at -2.5%. The data released for July this morning came in at +4.0%. This number is a good number for the market but it is a look back. Futures rose from being down about 100 points to being down only 40 points. The negative Indexes are because Japan's debt got downgraded last night.