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Worries abound, but US economy shows signs of life

from CNBC

Evidence is accumulating that the U.S. economy is improving, and that may be the biggest ally the stock market rally has. A recent ADP report showed the biggest jump in private payrolls since November 2012. Meanwhile, the June ISM report showed an increase in new orders, and new and existing home sales figures has been stronger as well. Auto sales are robust. Recently, ISI noted that its truckers survey, which they say has the highest correlation with GDP, ticked up to its highest level since December 2005. Yet consumer spending is still modest, underscoring the need for more hiring. Companies are waiting for hard evidence that the economy really is improving before they will start. more

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