Here come durable goods ...
The Census Bureau will release data on durable goods orders for September at 8:30 a.m. ET.
The consensus estimate among economists is a drop of 1.5%, according to Bloomberg. Excluding transportation, durables are expected to be flat at 0%.
"Core" orders, excluding military and transportation orders, are forecast to have risen 0.2%.
In a preview to clients, Wells Fargo's Sam Bullard wrote, "Following a 2.3% decline in August, durable goods orders are likely to have retreated in September, largely on the anticipated weakness from aircraft orders. Boeing's order data suggests that civilian aircraft orders will be weak, with only 29 orders in September versus 52 in August. Excluding transportation, we project a modest 0.2% rise in durable goods orders.
The manufacturing sector remains challenged with an elevated U.S. dollar and sluggish global demand. This soft backdrop is expected to remain in the nearterm, thereby limiting contributions made by the manufacturing sector to overall growth."
We'll be back with the latest at the bottom of the hour.