US Core Capital Goods Orders Rise 0.5% in September While Corporate Earnings Beat Expectations
Newsquawk ·
US non-defense capital goods orders excluding aircraft rose 0.5 percent in September, missing the consensus forecast of 0.7 percent and slowing from the previous month's upwardly revised 1.6 percent. Meanwhile, headline durable goods orders for September grew 1.8 percent, surpassing the anticipated 1.5 percent. In corporate earnings news, Freeport-McMoRan Inc. posted a third-quarter adjusted EPS of 0.88 USD on revenue of 7.546 billion USD, both beating expectations. Coca-Cola Company reported a Q3 adjusted EPS of 0.91 USD and revenue of 13.4 billion USD, also topping estimates. United Parcel Service Inc. topped profit projections and raised its full-year guidance, while S&P Global Inc. announced it is reviewing strategic options for Capital IQ and select data businesses.
AI 시장 분석
U.S. September non-defense capital goods orders excluding aircraft rose 0.5%, falling short of the expected 0.7%. Meanwhile, Q3 earnings released concurrently beat market expectations, with Coca-Cola posting an adjusted EPS of $0.91 and UPS reporting $22.9 billion in revenue. These economic indicators and corporate earnings demonstrate that companies retain earnings resilience amid a moderate economic slowdown.
상승 영향
- Consumer Staples — Major consumer staples companies like Coca-Cola exceeded expectations in Q3 EPS and revenue, proving solid performance.
- Transportation — UPS demonstrated healthy logistics demand by beating Q3 earnings and raising its annual guidance.
하락 영향
- Capital Goods — Non-defense capital goods orders excluding aircraft grew 0.5%, missing the 0.7% forecast and stirring concerns over a slowdown in corporate capex.
DYAX 전담 분석
The slowdown in capital goods order growth suggests a temporary pause in capital expenditure momentum, which could exert limited downward pressure on Treasury yields and the US dollar. However, the solid earnings of major corporations act as a factor supporting the market floor.
A bullish scenario is where strong corporate earnings offset weak economic indicators to drive index gains, while a bearish scenario involves a full-scale reduction in future capital expenditures. Key indicators to watch are upcoming revisions and manufacturing indexes.
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