U.S. durable goods orders unexpectedly fell 1% in June, their largest decline since August 2009. That was in sharp contrast to the predictions of the Bloomberg survey, which had forecast orders to increase 1%. The drop provides more evidence that the nation's economic recovery has slowed.
The East Coast heat wave is warming up more than sidewalks: It's also helping retailers shake up sales. Merchants are expected to report healthy numbers when they post their June sales figures Thursday, and several could update their second-quarter guidance as a result.