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Microsoft and Amazon Push Stocks Higher
We kicked off this morning with the September durable goods
report. The headline figure of +3.7% was ahead of the 2.3%
consensus. However, when excluding the volatile transportation
sector, durable goods fell 0.1% vs. consensus expectations for a
0.5% increase. Additionally, new capital goods orders were weaker
(INDEXNASDAQ:.IXIC) squeezed into positive territory as index
) traded up sharply after reporting better-than-expected earnings.
Amazon actually hit a new all-time high above the $360 level.
Tomorrow's Financial Outlook
On Monday , we'll have more important economic data coming as we'll see the September Industrial Production and Capacity Utilization numbers at9:15 a.m. EDT . Consensus estimates currently stand at 0.4% and 78%, respectively.
At10:00 a.m. , September Pending Home Sales will be reported.
Economists are forecasting a 2.0% month-over-month decrease.
However, the big news will come on the earnings front, with market heavyweight Apple ( AAPL ) reporting its fiscal fourth-quarter results after the close. The company has already pre-announced solid revenues for the quarter, so guidance will be key.
Other big names reportingMonday include Merck (MRK) before the open, and Seagate Technology (STX) after the close.