Wednesday, September 24, 2014

Thursday: Unemployment Claims, Durable Goods

by Calculated Risk on 9/24/2014 08:15:00 PM

On August Durable Goods from MarketWatch: What goes up must come down: Durable-goods orders set to sink

After flying high in July, orders for U.S. durable goods are likely to take a big dive in August.

But don’t pay any heed. The record 22.6% surge in orders in July was propelled mainly by a pile of new contracts for Boeing jets. Those orders tumbled in August and will drag orders into deep negative territory. Economists polled by MarketWatch forecast a 17.3% in new orders.

Strip out airplanes and autos, however, and Wall Street expects orders for durable goods to rise by 1% or more in August.
• At 8:30 AM ET, the initial weekly unemployment claims report will be released. The consensus is for claims to increase to 300 thousand from 280 thousand.

• Also at 8:30 AM, Durable Goods Orders for August from the Census Bureau. The consensus is for a 17.1% decrease in durable goods orders (last month durable goods orders were up 22.6% due to aircraft orders).

• At 11:00 AM, the Kansas City Fed manufacturing survey for September.