durable goods orders

Orders for durable goods fell more than expected in August, according to Thursday's report from the Department of Commerce.

AP - Orders for big-ticket manufactured goods plunged in August by the largest amount in seven months as demand for both airplanes and autos fell sharply.

Stocks rallied Wednesday, with financial services companies among the big gainers, as investors shrugged off higher oil prices and instead focused on a surprisingly strong reading on durable goods orders.

Stocks struggled Wednesday morning as investors welcomed a surprisingly strong reading on durable goods orders but remained wary as oil prices spiked and Tropical Storm Gustav headed for the Gulf Coast.

New orders for long-lasting US manufactured goods rise by a surprise 1.4% in July, led by a big rise in aircraft sales.

AP - Wall Street pulled back Wednesday after a drop in February's durable goods orders injected more pessimism about the economy into the stock market.

US durable goods orders fell 1.7% in February, the latest sign that the economy faces the risk of recession.

Stocks were mixed Wednesday morning, after slumping at the open, as investors eyed weak reports on new home sales and durable goods orders and the start of Fed Chairman Ben Bernanke's congressional testimony.