Friday data: Core capital orders jump, September consumer sentiment upwardly revised
SPY•U.S. core capital goods orders rose 1.6%, above the 0.5% consensus, while September consumer sentiment was revised up 0.3 point to 48.1. Major U.S. stock indexes pared earlier gains, and the 10-year Treasury yield rose to about 5.23%.
1. Orders beat forecasts
New orders for core capital goods, which exclude aircraft and defense, increased 1.6%, more than triple the 0.5% consensus and up from July’s upwardly revised 0.6% gain. Shipments of core capital goods rose 0.6%, following a 1.4% increase in July.
2. Sentiment revised higher
The University of Michigan’s final September consumer sentiment reading was 48.1, up 0.3 point from the initial estimate but 6.9% below the final August reading. Consumers’ one-year inflation expectations were 4.6%, while their five-year expectations rose to 3.4% from 3.3%.
3. Markets little changed
The Nasdaq and S&P 500 were near flat while the Dow gained about 0.2%. The 10-year Treasury yield rose to about 5.23%; the dollar, gold, crude and bitcoin were lower.
