Here come durable goods ...

The Commerce Department will release data on durable goods orders during April at 8:30 a.m. ET.

Economists forecast the advance report will show that orders for goods made to last rose 0.5%, according to Bloomberg.

Excluding transportation orders, which can be massively volatile month-to-month, they forecast that goods rose 0.3%.

New orders for non-defence capital goods excluding aircraft, or core orders, are expected at 0.3%, and shipments in the same category are estimated at 0.1%.

Here's a preview from Bank of America Merrill Lynch:

Falling metals prices continue to exert a drag on the value of metals-related shipments. Offsetting that, oil field and gas machinery orders stabilized in the last report, and may have increased slightly in April. Core capital goods orders and shipments (non-defense, ex-aircraft) are an important input in our GDP tracking model. We expect shipments to have flat-lined in April, with orders up 0.2% - a very restrained pace suggesting that business capital spending remains under pressure.

Refresh this page for the latest at the bottom of the hour.