US equity markets opened higher as global stocks rebounded after yesterday’s rout. News that the Trump administration may soften its stance on Huawei contributed to gains. The three major indexes are poised to post consecutive weekly losses, and the Dow could see its longest streak of weekly losses in eight years heading into the Memorial Day weekend.
Durable Goods Misses Forecast
April durable goods orders registered a decline on the headline reading at -2.1%. Core capital goods orders were also negative at -0.9 with downward revisions to March. Orders are now running below shipments for April, consistent with sluggish momentum in capital expenditure.