What a report! Durable Goods new order absolutely exploded growing month-on-month by 22 percent when the street was expecting 8 percent. Excluding defense, New Order grew 24.9 percent from June to July. Non-defense aircraft and parts new orders grew 318 percent! The worst performer in the report is Defense Aircraft and parts new orders, they fell 28.8 percent over June to July. The news has traders on edge and they are selling futures downward slightly following the report and the dollar is down on volatile trading.
Standout points from the report:
Category | July 14 | June 14 | (MoM) % Change. |
Capital Goods New Orders | 144,879 | 94,904 | 52.7 |
Capital Goods New Orders: non-defense capital goods | 136,298 | 84,776 | 60.8 |
Transportation New Orders: non-defense aircraft and parts | 70,281 | 16,815 | 318 |
US futures have faded the initial sell off and are now nearly unchanged.
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