The U.S. Commerce Department released durable goods orders data today. The U.S. durable goods orders rose 0.4% in October, beating expectations for a 0.4% decline, after a 0.9% drop in September. August's figure was revised up from a 1.1% decrease.

The increase was driven by the strength of transportation equipment. Demand for transportation products climbed 3.4 % in October

The U.S. durable goods orders excluding transportation fell 0.9% in October, missing expectations for a 0.5% gain, after a 0.2% rise in September. September's figure was revised up from a 0.1% decrease.

The U.S. durable goods orders excluding defence decreased 0.6% in October.