On Wednesday, the Census Bureau will be releasing May’s durable goods orders ahead of the opening bell.
Market participants will be closely watching to see how the continued uncertainty surrounding the trade war has impacted the manufacturing sector. Durable goods orders declined for the past three consecutive months, and economists are expecting headline orders to have fallen again by 0.1% in May, up from the 2.1% drop in April, according to data compiled by Bloomberg. Durable goods excluding transportation are anticipated to have risen 0.3%.
Boeing’s woes surrounding its 737 Max jets rage on — and will likely weigh on the headline durable goods orders. “Most of the expected drop is due to cancellations of Boeing orders. Data from Boeing showed zero gross orders in May,” Credit Suisse wrote in a note Thursday. “Additionally, total net orders data suggest there were 6 cancellations, which will count as negative orders in May.”
Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.
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