US November sturdy items orders -1.1% vs -0.4% anticipated

This was released earlier:

• Prior was +0.8%
• Nondefense capital goods orders ex-air +0.7% vs -0.1% prior
• Ex transport -0.1% vs +0.3%

The core orders number is the important one and it showed a nice rebound is November. The problem I’m seeing is that industrial company stocks have been plunging lately. Here’s Nucor, which is the largest steel producer in the United States. You would think there would be a Trump bump as he’s more likely to add tariffs but it’s been straight downhill after a post-election gap up.

Shares are at their lowest level in more than 2 years.