Aug 24, 2011 — A 4 percent increase in orders for products designed to last three or more years has set the stage for what could be another good day for the stock market.
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Rise In Orders For Durable Goods Lifts Spirits On Wall Street
by Mark Memmott
Aug 24, 2011 — A 4 percent increase in orders for products designed to last three or more years has set the stage for what could be another good day for the stock market.This just in from Bloomberg News:
"U.S. stock futures pared losses, erasing most of a 1.4 percent decline, as a bigger-than-expected increase in orders for durable goods offset concern yesterday's rally went too far, too fast."
Translation: Wall Street may have an OK day. The futures are signalling that the market's likely to head higher.
The news on orders for durable goods orders comes from the Census Bureau, which says they went up 4 percent in July from June. As The Associated Press says, "orders for aircraft and autos" led the way.
Tuesday on Wall Street, stocks "posted their biggest jump in nearly two weeks."
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