Economic data released before the bell were predictably* grim: Initial jobless claims rose by 3,000 last week to 588,000, more than expected. Durable-goods orders skidded 2.6 percent last month, also more than expected. Excluding transportation, orders tumbled by 3.6 percent, which was far worse than the 2.8-percent slide expected. And new-home sales tumbled 14.7 percent to a 331,000 annual rate, the slowest pace on record and a far cry from the 400,000 rate expected...Yes, clever little monkeys that you are, you immediately realized that we need experts who can provide us with more accurate expectations. After all, we are told that surprises in the markets are what cause fear and panic. These experts will be the death of us all. Luckily for us, financial press headline writers are able and willing to restore calm where their prognosticatory cohorts fall so short.
Just witness the headline on the above story:
* doesn't the rest of the paragraph lead one to believe that the data were UNpredictably grim?