Here's why business editors scratch their heads

Consumers, and Wall Street, are reading/hearing conflicting economic lines.  Behind yesterday's stock market rally (Dow industrials up 67.71 points) was word from the Federal Reserve's Dallas bank president that the U.S. economy remains strong, reports The Wall Street Journal on page 1 today.  On the other hand, four columns to the right on the same page, the lead story mentions "a growing sense that the economy is slowing."

So what happened in today's market action?  The Dow industrials closed at 11669.39, up 93.58 points, a six-year high and about 57 points from its all-time high set in January, 2000.  The upward movement was attributed to positive reports on consumer confidence and regional manufacturing.

Just last week, a manufacturing report from another Fed district, Philadelphia, showed slowing activities in mid-Atlantic states.  That sent the market south.  Stay tuned.