Analysts at TD Securities enlist key economic events due out of the US on Tuesday, with the Durable Good Orders to headline.
“We forecast a 0.3% m/m decline in durable goods orders, largely explained by a retreat in the nondefense aircraft segment. The decline in the latter should offset a gain in ex-transportation orders, which we pencil in at +1.2% m/m.
Separately, the consensus is looking for a modest improvement in the Richmond Fed’s manufacturing index to -3 in Jan from -5 in Dec, which would be consistent with the gains in the regional indices published so far.
Lastly, we anticipate a decent increase in the Conference Board’s consumer confidence index, to 129.5 in Jan from 126.5 in Dec.”