Stronger-than-expected durable goods orders for April led the way upward. Durable orders increased 2.9% in April, beating the consensus 2.2% estimate. A surge in civilian aircraft orders helped the overall gain.
New-home sales also beat expectations in April, rising 14.8% to a seasonally-adjusted annual rate of 504,000, far above the expected 425,000. Buyers cashing in on the expiring home buyer tax credit fueled the increase.
< br/>The euro had made up some ground after stock increases, but the dollar gained after the durable goods and home sales data.
(is it good enough to lip the market up? )
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