Durable goods orders jumped 1.7% to $288 billion in May. Orders for nondefense capital goods excluding aircraft — a.k.a. core capex or business investment — rose 0.7% to $74 billion during the month. census.gov/manufacturin…

"We may not be out of the woods yet, but back-to-back gains in core capital goods orders and a third straight monthly increase in orders for durable goods more broadly points to a potential bottoming out in spending and upside for second quarter equipment spending." - Wells Fargo

The hard data continues to perform much better than the soft survey data. For more on this disconnect, read: