US September Durable Goods Orders Miss Estimates as Labor Market Shows Further Cooling

US durable goods orders rose 1.8% in September, falling short of the 2.0% consensus estimate, according to data released October 27. Core durables, which strip out transportation, increased 0.5% against a 0.6% forecast, while capital goods orders excluding defense and aircraft, a closely watched proxy for business investment, climbed 0.5% versus an expected 0.7%, signaling a modest but broad undershoot across the report.

Separate labor market data added to the cautious tone. ADP weekly employment change for the week of October 10 came in at 16,750, down from 18,500 the prior week, continuing a gradual deceleration in private-sector hiring. On the consumer side, Redbook year-over-year retail sales accelerated to 9.3% from a prior reading of 9.0%, offering one brighter data point amid the softer figures.

Alibaba shares slipped roughly 1% in premarket trading after a separate development: the company won a court injunction blocking Pentagon contract restrictions that had been tied to its inclusion on a China blacklist, a legal outcome that limits the government's ability to exclude the firm from US defense-related business for now.