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Durable goods do some good

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Small victory, we know, but we’ll take it. Investors took heart this week from better-than-expected data on durable goods orders, in spite of a rise in oil prices as a result of concerns that tropical storm Gustav could disrupt supplies, according to the Financial Times.

“U.S. stocks took their lead from data suggesting that demand for expensive manufactured goods unexpectedly rose in July while an indicator of capital spending by businesses leapt higher.”