Boeing posted its best April orders book in six years, but other transportation orders look softer. Defense may also retrench some. Core non-defense ex aircraft orders likely posted a small gain
The highlight, or lowlight, of the week will probably be Thursday’s Second Report of 14Q1 GDP. Downward revisions, mostly to inventories, will push real growth into the red for the quarter, but the resulting healthier inventory-sales ratio bodes well.