Leading economic indicators rose in January and this indicator looks at the next six months. The index gained 0.4% but missed analysts’ consensus estimates of 0.5%.
The leading indicators index tracks 10 components and of the ten, seven rose in today’s report.
The Coincident and Lagging Indicators reports also showed gains.
ETFs reacted mostly positively to yesterday’s and today’s economic reports which showed improvements in unemployment, housing starts and Philadelphia Federal Reserve Manufacturing, along with today’s leading indicators.
At mid-day Friday, the S&P 500 (NYSEARCA:SPY) was up 1 point while crude oil (NYSEARCA:USO) gained 0.84%.
Gold (NYSEARCA:GLD) declined -0.22% and U.S. Treasury Bonds (NYSEARCA:TLT) were down -0.2% in mid-day trade.
From the report:
The Conference Board Leading Economic Index® (LEI) for the U.S. increased 0.4 percent in January to 94.9 (2004 = 100), following a 0.5 percent increase in December and a 0.3 percent increase in November.