Orders for long-lasting goods rose a stronger-than-expected 0.2% in August, but the increase mostly stemmed from higher defense spending as the U.S. sought to replenish military hardware sent to Ukraine.

Economists polled by the Wall Street Journal had forecast a 0.5% decline.

Durable-goods orders minus defense actually fell 0.7% last month, the government said.

In a more positive sign, so-called core orders jumped 0.9%. These order reflect future investment.

Before the report, the Dow Jones Industrial Average and S&P 500 were set to open higher in Wednesday trades.

Source : Marketwatch