Pre-open:
May 28 (Bloomberg) -- Orders for U.S. durable goods excluding transportation equipment unexpectedly rose in April by the most in nine months, signaling demand from abroad may be helping factories ride out the housing-led economic slowdown.
Bonds keep selling and bulls might have pulled it off for now if SPX can hold water above 1383. Watch NQ resistance at 2011 (76.4% of 2008) and 1395 for ES (61.8% of 2008).
Next support level for crude oil is 124.45/124.75.
The yield on the ten year has jumped to 3.99%. Will bonds find some takers at 4%? Watch those gaps at the open.
Let's dig a little deeper into the report (from MW):
May 28 (Bloomberg) -- Orders for U.S. durable goods excluding transportation equipment unexpectedly rose in April by the most in nine months, signaling demand from abroad may be helping factories ride out the housing-led economic slowdown.
Bonds keep selling and bulls might have pulled it off for now if SPX can hold water above 1383. Watch NQ resistance at 2011 (76.4% of 2008) and 1395 for ES (61.8% of 2008).
Next support level for crude oil is 124.45/124.75.
The yield on the ten year has jumped to 3.99%. Will bonds find some takers at 4%? Watch those gaps at the open.
Let's dig a little deeper into the report (from MW):
Defense capital goods rose 4.8% in April.
Shipments of durable goods rose 1.2% in April after falling 0.9% in the previous month. Excluding transportation orders, shipments rose 1.3% after a 0.2% rise in March.
Unfilled orders rose 1.0% after rising 1.3% in March.
Inventories rose 0.5% after rising 1.0% in the previous month.
Looking at individual sectors, orders for machinery rose 4.2% in April. Shipments of machinery fell 1.3%.
Orders for computers and electronics other than semiconductors fell 1.5%. Shipments of computers rose 4.3%.
Orders for primary metals rose 2.8% in April. Shipments of primary metals rose 2.4%
This entry was posted
on Wednesday, May 28, 2008 at 5/28/2008 08:36:00 AM.
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