US: Weekly jobless claims and durable goods in focus - BBH

Research Team at BBH, suggests that the key to the North American session is unlikely to be found in either the weekly jobless claims or even the January durable goods order report.

Key Quotes

“The driver will be how much of yesterday's reversal in the S&P 500 can be sustained. Was yesterday's recovery a fluke? That said, as will likely be confirmed tomorrow, the US economy stagnated in Q4 15 (the 0.7% annualized rise is at risk of being nearly halved in tomorrow's revision), but is reaccelerating in Q1 16. Consistent with this is expected to be firmer durable goods orders. In particular, nondefense orders excluding aircraft are forecast to snap a two-month decline.”