Durable Orders for June decreased by 2.5%, by $4.1 billion to $158.6 billion, after increasing unexpectedly in May by 1.3%-revised from 1.8%, following a 1.8% increase in April.  New durable orders were expected to increase by 0.5% over the month, based on the consensus of analysts estimates. Over the past 12 months, Durable Orders have reduced by 26.7%.  Excluding transportation, new orders increased by 1.1% in June with a 23.4% 12 month decline; excluding defense, new orders decreased by 0.7% over the month, although down 28.4% over the year.

The Fed’s Beige Book will also be made available today at 2:00 PM EST, which will be the topic of discussion at the closed door FOMC meeting on August 11th and 12th, with a policy statement scheduled to be released at the close of the meeting on August 12th at 2:15 PM EST.

Upcoming Releases
Fed’s Beige Book (07/29 at 2:00 PM EST)
Initial Claims (07/30 at 8:30 AM EST)
GDP –Q1 Advance (007/31 at 8:30 AM EST)
ISM Manufacturing Index (08/01 at 10:00 AM EST)

Zacks Investment Research
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