Here come durable goods orders ...
Stephen Brashear/Getty
Economists forecast that orders for things built to last rose 1.7% during the month, according to Bloomberg. Excluding transportation equipment, so-called core durable goods orders are expected at 0.2%.
Capital goods orders for nondefense items excluding aircraft - a gauge of business spending - is expected to rise 0.3%. This is a closely watched metric in the report because it provides clues about corporate America's spending plans.
Business spending has contracted every quarter since the final three months of 2015, partly because of the weakness in oil prices and energy-related sectors.
"Today's durable goods report covers the month of October, and we are more interested in the possible shift in order flow that could result from a post-US Election improvement in business sentiment," said Joseph LaVorgna, the chief US economist at Deutsche Bank, in a note. "Hence, in our view, next month's durable goods data are of greater significance."
- I'm an interior designer. Here are 10 things in your living room you should get rid of.
- A software engineer shares the résumé he's used since college that got him a $500,000 job at Meta — plus offers at TikTok and LinkedIn
- A 101-year-old woman keeps getting mistaken for a baby on flights and says it's because American Airlines' booking system can't handle her age
- The Role of AI in Journalism
- 10 incredible Indian destinations for family summer holidays in 2024
- 7 scenic Indian villages perfect for May escapes
- Paneer snacks you can prepare in 30 minutes
- Markets crash: Investors' wealth erodes by ₹2.25 lakh crore