US Jan durable goods orders +2.8% vs +1.6% exp

US Jan durable goods orders report highlights:

• Prior was -3.3% (Revised to -3.7%)
• Ex transportation +0.3% vs +0.5% exp
• Prior ex transportation -0.8% (revised to -0.9%)
• Capital goods orders non-defense ex air +0.6% vs +0.4% exp
• Prior cap goods orders non-defense ex air -0.6% (revised to -0.7%)
• Cap good shipments non-defense ex air -0.3% vs +0.2% exp
• Prior cap good shipments non-defense ex air -0.2% (revised to +0.3%)

The revisions are a minor blip but overall it's a solid report that comes after months of weak readings. It's too soon to make any kind of statements about a pickup in capex because the last six months of reports have been in the doldrums.