Yesterday’s momentum from the late-day rebound carried over to global markets this morning. Shares in Asia and Europe are higher and U.S. stock index futures point to a positive start.
Ahead of the opening bell, a report showed durable goods orders in April jumped 2.9% after a revised no change in March. Excluding the volatile transportation component, new durable orders slipped 1.0% after a 4.8% spike in March. While the monthly numbers are volatile, the continuing trend in manufacturing is healthy. Shortly after U.S. markets open, the Commerce Department will release a report on new home sales in April. That number is expected to have risen to a seasonally adjusted 425,000-unit annual rate from a 411,000-unit rate in March. The weekly oil inventories report is also due at 10:30 am.
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