U.S. durable goods report hints at pickup in business spending

New orders for U.S. manufactured capital goods rebounded in October, driven by rising demand for machinery and a range of other equipment, pointing to a tentative pickup in business investment. While other data on Wednesday showed a jump last week in the number of people filing for unemployment benefits, the trend in claims remained consistent with a tightening labor market. The reports were supportive of views that the Federal Reserve will raise interest rates next month.