May 25, 2011
Early effects of the Japanese supply crunch are seen in April durable goods data that show wide and deep declines across new orders and shipments. Yet rising backlog is an important strength that will help manufacturers keep up production during the disruption. The data were no surprise and didn't hold back the Dow which ended three straight losing sessions with a small gain to 12,394. Oil firmed to $101 while gold held steady at $1,525.