Stock Market Update

The stock market is now poised for a flattish opening this morning as investors proceed cautiously ahead of an eventful week of trading. 

Durable goods orders jumped 5.3% month-over-month in November (Briefing.com consensus: 1.1%) following an upwardly revised 2.1% decline (from -2.2%) for October. Excluding transportation, durable goods orders rose 0.5% month-over-month (Briefing.com consensus: 0.3%) following a downwardly revised 0.1% increase (from 0.2%) for October.

The key takeaway from the report is that it showed good business spending activity, evidenced by the 0.7% month-over-month jump in nondefense capital goods orders excluding aircraft.