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Durable Goods Miss Offset By Revisions; Jobless Claims On Soft Side

DATA REACT

The large set of U.S. data releases at 0830ET was mixed overall and with few major surprises, so unsurprisingly has had little market impact:

  • Weaker-than-expected durable /cap goods for May offset by higher revisions for April.
  • Initial jobless claims on the high side; continuing claims on the lower side. Both priors revised weaker (i.e. higher).
  • Wholesale inventories grew faster than anticipated in May, with higher Apr revision.
  • Advance trade goods deficit $0.6B bigger than expected.
  • Final reading of 1Q GDP in line.

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