Warning sign: Stocks take nosedive

[J P Sousa]

http://money.cnn.com/2015/01/27/investing/stock-market-dow-dive/

The market is reacting to three prongs of bad news: falling oil's impact on companies, more signs of a weakening global economy and corporations cutting their outlook for 2015.   

Where's the consumer rebound? The other big warning sign today is new economic data showing people aren't buying as much as expected.

Sales of products meant to last long-term -- like kitchen appliances and home furniture -- dropped 3.4% in December from a month prior, causing concerns about economic growth. These items, called durable goods, are a key measure of consumer spending. Durable good sales decreased four of the last five months.
   

UPS also said it over-estimated holiday ordering, added too many temporary employees.

[thundley4]

People are using the money they save on gas to buy necessities and pay down debt.