The U.S. Commerce Department released durable goods orders data on Wednesday. The U.S. durable goods orders climbed 3.0% in October, exceeding expectations for a 1.5% rise, after a 0.8% drop in September. September's figure was revised up from a 1.2% fall.

The rise was partly driven by a strong demand for transportation equipment, which soared by 8.0% in October.

The U.S. durable goods orders excluding transportation increased 0.5% in October, beating expectations for a 0.3% gain, after a 0.1% decrease in September. September's figure was revised up from a 0.4% drop.

The U.S. durable goods orders excluding defence jumped 3.2 % in October, after a 1.6% decline in September. September's figure was revised up from a 2.0% decrease.