US September Durable Goods Exceed Expectations Amid Heavy Corporate Earnings Lineup
Newsquawk ·
US durable goods orders for September rose 1.8 percent month-over-month, beating the projected 1.5 percent and improving from the prior 0.1 percent reading. Orders excluding transportation grew 0.5 percent, while non-defense orders advanced 2.2 percent. In corporate earnings, Freeport-McMoRan posted a Q3 adjusted EPS of 0.88 USD on 7.546 billion USD in revenue. Coca-Cola reported a Q3 adjusted EPS of 0.91 USD and 13.4 billion USD in revenue. United Parcel Service topped estimates and raised its fiscal year 2026 outlook, projecting revenue of 92.6 billion USD and EPS of 7.28. Novartis posted core EPS of 2.46 USD with 14.5 billion USD in net sales. Boeing reported a Q3 adjusted loss per share of 0.34 USD on 24.2 billion USD in revenue. PayPal raised its full-year profit guidance after posting an adjusted EPS of 1.45 USD, and SoFi Technologies also lifted its full-year view following robust Q3 results.
AI 시장 분석
US durable goods orders for September increased by 1.8% month-over-month, beating the expected 1.5%, though core indicators excluding transportation showed mixed trends. Strong Q3 earnings from major companies and UPS raising its annual outlook maintained expectations for a soft economic landing. Investors need to focus on the detailed composition of non-defense capital goods orders, which directly correlate with GDP investment, rather than the headline figure.
상승 영향
- Transportation — UPS reported Q3 earnings exceeding market expectations and raised its FY26 revenue and EPS outlook, reflecting expectations of logistics demand recovery and improved profitability, which is positive for the stock price.
- Financials — SoFi Technologies posted Q3 net income and revenue above expectations and raised its annual guidance, increasing expectations for fintech and loan asset growth.
하락 영향
- Semiconductors — Non-defense capital goods orders ex-air, a proxy for corporate capex, came in at 0.5% below the expected 0.7%, stimulating concerns over a slowdown in IT and hardware capital expenditure demand.
DYAX 전담 분석
While the headline US durable goods orders growth for September recorded 1.8%, beating market expectations, non-defense capital goods orders ex-air—the core indicator excluding volatile aircraft and transportation—rose by only 0.5%, falling short of the market expectation of 0.7%. This suggests that companies' capital expenditure intentions are differentiating by sector, acting as a factor stimulating short-term volatility in the US dollar and bond yields.
Future scenarios coexist between continued risk-on sentiment based on robust headline performance and economic slowdown concerns due to decelerated core capital goods indicators. Investors should monitor upcoming revisions and GDP capex indicators while preparing for stock-by-stock divergence driven by corporate earnings announcements.
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