Market Weekly: April 19 – 26 2020

#23550
TradersCom
Keymaster

US March prelim durable goods orders -14.4% v -12.0% expected, Prior +1.2%

Ex transport -0.2% vs -6.5% exp, Prior ex transport -0.6% (revised to -0.7%)
Capital goods orders non-defense ex air +0.1% vs -6.7% exp, Prior capital goods orders non-defense ex air -0.9% (revised to -0.8%)
Capital goods shipments non-defense ex air -0.2% vs -0.7% exp, Prior capital goods shipments non-defense ex air -0.8% (revised to -0.9%)

Take out transportation and the internal numbers were much stronger than expected Watch for factor orders to see how bad Q1 GDP is. Demand for transportation equipment sank 41 percent, mainly due to a 296 percent drop in orders for nondefense aircraft and parts. Excluding transportation, new orders decreased 0.2 percent and excluding defense new orders went down 15.8 percent. Core capital goods orders, which exclude aircraft and military hardware, rose 0.1 percent.