The regional numbers were equally bad: a 16 percent drop (year over year) in exports to Europe, Brazil down 3.3 percent, India down 19.9 percent, Japan down 1 percent (their largest regional trading partner), and an 0.6 increase to the U.S.
And then there is this: new bank loans were at a 10-month low. So overseas demand is weak, AND domestic demand is weak? Yikes!
So why did our market do...nothing? We were near the lightest volume day of the year. (See: Stocks Higher for Week, S&P Logs 6-Day Rally)