(Lee Siler) - On the surface, this morning's durable goods number looked pretty strong. The Commerce department reported that durable goods jumped 4.9% in July. That was the biggest increase since 2007. However, if you strip out transportation goods the index only rose 0.8% which was below analysts' expectations. The Commerce Department will also be releasing data on July new home sales later today.

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(Lee Siler) - The U.S. economy shrunk more than expected, according to the Commerce Department. The U.S. saw economic contraction for the third straight quarter, a run not seen since 1974-1975. Analysts had expected the GDP to be down 4.9%, but the number actually came in down 6.1%.

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