Isn't this just another signal (in addition to previous weak data) that the Fed's monetary/economic stimulus policies of low interest rates and bond-buying program is not having the effect that it desired? The only effect seems to be a higher stock market, which is in the green, once again (and at/near all-time highs), as I write this at 11:30 am.
I wonder if economics will ever play a role in the stock markets again...as long as the markets have the Fed's tacit approval to carry on, I don't think so...therefore, data releases are irrelevant.
