GDP grew at an annual rate of 2.4% in the fourth quarter of 2013, slightly lower than estimated growth of 2.5%.
Durable Goods Orders fell 1.0% on a monthly basis in January, whereas consensus pointed to a steeper drop of 1.5%. Ex-transportation, Durable Goods Orders rose 1.1% month-over-month in January, beating forecasts which pointed to a 0.3% decline.
The Markit Flash Services PMI Business Activity Index fell 4 points to a level of 52.7 in February. The Chicago Fed National Activity Index fell from -0.03 in December 2013 to -0.39 in January.
The Dallas Fed Manufacturing Business Index dropped to a level of 0.3 in February, compared to January's reading of 3.8. The Richmond Fed Manufacturing Index fell from 12 to a level of -6 in February, marking to lowest level recorded since July 2013. The Kansas Fed Manufacturing Activity Index rose from -8 to a level of 3 in February.
The Chicago Purchasing Managers' Index beat expectations in January, rising to 59.8. New Home Sales jumped 9.6% from last month to 468,000 in January, beating estimates at 400,000.
Pending Home Sales inched just 0.1% higher month-over-month in January, sharply lower than expectations of 2%, while year-over-year, they fell 9%. The S&P/Case-Shiller Home Prices Indices advanced 13.4% in December 2013, down slightly from the previous month's 13.7% rise.
Consumer Confidence fell 1.3 points to 78.1 in February, coming in lower than forecasts of a rise to 80.0.
The Reuters/University of Michigan Consumer Sentiment Index rose to 81.6 in February, slightly higher than January's final reading of 81.2. U.S.
Jobless Claims increased by 14,000 in the week ending February 22nd to 348,000.
Crude Inventories increased by 0.1 million barrels last week, while oil prices rose to $102.53.
We currently have a Case 4, Bull market scenario in which earnings, inflation and interest rates are rising.