Demand for U.S. Capital Goods Climbs as Investment Recovers (Bloomberg)
Orders for U.S. equipment, such as computers and machinery, climbed in August to show that business spending is starting to strengthen. Non-military capital goods, excluding aircraft, increased 1.5 percent after a 3.3 percent drop in July, the Commerce Department reported this morning. Demand for all durable goods, which are meant to last at least three years, rose 0.1 percent, after plunging 8.1 percent in July.
Stocks declined for a fourth consecutive session as investors weighed concerns about the Federal Reserve's eventual stimulus tapering and government budget discussions against easing tensions in the Middle East.
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