Rise In Orders For Durable Goods Lifts Spirits On Wall Street

By Mark Memmott

Published August 24, 2011 at 9:20 AM EDT

This just in from Bloomberg News:

"U.S. stock futures pared losses, erasing most of a 1.4 percent decline, as a bigger-than-expected increase in orders for durable goods offset concern yesterday's rally went too far, too fast."

Translation: Wall Street may have an OK day. The futures are signalling that the market's likely to head higher.

The news on orders for durable goods orders comes from the Census Bureau, which says they went up 4 percent in July from June. As The Associated Press says, "orders for aircraft and autos" led the way.

Tuesday on Wall Street, stocks "posted their biggest jump in nearly two weeks."

Mark Memmott

Mark Memmott is NPR's supervising senior editor for Standards & Practices. In that role, he's a resource for NPR's journalists – helping them raise the right questions as they do their work and uphold the organization's standards.

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