U.S. February Durable Goods Data Quick Take

U.S. durable goods orders fell 1.4% in February, mainly reflecting a drop in aircraft orders. Boeing Co. said its aircraft orders in February were lower than the previous month. Orders for business equipment rebounded in February, indicating that companies were advancing their investment plans before the outbreak of the conflict in Iran. Economists expect business investment to remain robust this year as companies continue to increase investment in artificial intelligence and take advantage of more favorable tax policies. Meanwhile, it remains unclear what impact the conflict in Iran will have on businesses. The conflict has already significantly pushed up prices for oil and some other commodities.