Latest News

Economic Report: U.S. durable-goods data stronger-than-expected in January

0

The numbers: Orders for durable goods rose 1.6% in January, the government said Friday.

Economists had forecast a 0.8% rise in orders for durable goods — products made to last at least three years. Orders for December were revised up sharply to a 1.2% gain from the prior estimate of 0.7%.

Core capital goods orders, which exclude volatile sectors like transportation and defense, rose 0.9% in January.

Key details: Excluding transportation, orders were up 0.7% in January. Excluding the defense sector, orders were up 1.6%.  

Bookings for commercial aircraft jumped 15.6% in the month.

Big picture: The durable goods sector looks in much better shape than prior to the data. Economists had been worried about signs of a moderation in orders. The factory sector has been a pillar of strength during the pandemic.

Market reaction: Stocks
DJIA,
+0.28%

SPX,
+1.50%

were moving on minute-by-minute developments related to Russia’s invasion of Ukraine. Reports that Russia might be open to negotiations led to expectations of a higher market opening.

Market Pulse: Dow futures up over 150 points amid reports that Russia agrees to talks with Ukraine

Previous article

Economic Report: U.S. consumer spending rebounds as omicron wanes and economy perks up

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News