The pattern...

...of green shoot statistical releases promptly followed by donward previous month "revisions" continues. With error bands elongating, why would anyone attribute market movements to (exclusively) statistical releases?

Of course the short answer is they don't. And yet the public marches on in its addiction to these "eureka" moments when an answer is not found but provided by financial media. Of course, next month, when downward revisions to the durable goods orders are released, this will not be news.

June 24 (Bloomberg) -- U.S. stocks rose for a second day after orders for durable goods unexpectedly jumped and earnings topped estimates at Oracle Corp. and Monsanto Co.