US DATA: July durables orders +4.2%, but -0.4% ex transport (down
in 4 of the last 5 mos) and +5.7% ex defense (a rebound) – in a mixed
report that was about as expected. Boeing Corp reported 260 new orders
vs 24 in June (though there have been some cancellations) and nondefense
aircraft orders printed +53.9% (NSA +78.5%). Motor vehicles printed
+12.8%, and overall transport was +14.1%. Other components were mixed:
primary metals orders +2.7%, machinery -3.6%, computers +1.0%,
electronics -2.1%. Shipments were +2.6% (biggest gain since Dec’11) and
inventories +0.7%. NDCG shipments +1.2%, showing capX grew at beginning
of Q3.
Featured Videos