Analysts at Danske Bank note that next week will be fairly slow in terms of US data and we should get a better sense of how resilient the US economy is to the global slowdown the following week, with ISM manufacturing and the May jobs report coming out. We also look forward to hearing more from multiple FOMC members.
Analysts at Wells Fargo Securities noted that durable goods fell 2.1% in April, with a 25.1% plunge in civilian aircraft orders weighing on the headline. Durable goods orders fell 2.1% in April. This was not a huge surprise. Of the 66 economists who submitted a forecast to Bloomberg for durable goods orders this month, none had expected an increase.
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