Prior month 16.4% revised to 16.5%Advanced estimate for durable goods for June -9.3% vs -10.8% estimateEx Transportation 0.2% vs. 0.1%. Prior month 0.5% revised to 0.6%Ex Defense -9.4% vs 15.7% last month (revised up from 15.5%)NonDefense Cap ex Air -0.7% vs 0.2% estimate. Prior month 1.7% revised higher to 2.0%
In a week or so the factory orders will revise the advanced durable goods orders for June
Last month, the number was the biggest since July 2014. This month was the worst month since April 2020 (Covid related).
Transportation orders can be a big influence, and Pres. Trump’s agenda is to sell big ticket items like defense, like aircraft as part of the tariff deals (it is a quicker way to see results in trade numbers too and it something that is manufactured in the US). As a result, I would not be surprised to see big swings in durable goods orders going forward.
From the Census Dept: U.S. durable goods orders fell 9.3% in June to $311.8 billion, following a 16.5% surge in May. The decline was driven by a 22.4% drop in transportation equipment, which fell by $32.6 billion. Excluding transportation, orders rose slightly by 0.2%, while orders excluding defense dropped 9.4%.
A snapshot of the major indice projected opens:
Dow industrial average +68 pointS&P index +10.15 pointsNASDAQ +8.63 points
This article was written by Greg Michalowski at investinglive.com.