Here Comes Durable Goods Orders...

At 8:30 a.m. ET, we'll get the October durable goods orders report.

Economists estimate durable goods orders dropped 0.6% in October. Nondefense capital goods orders excluding aircraft, or core capex, is estimated to have increased by 0.5%.

"July's 300%+ spike in aircraft orders is still in the process of unwinding, which should keep headline orders relatively subdued," Credit Suisse economists said. "Although short-run momentum has been sluggish, year-on-year trends in the key core aggregates have been decent."

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