Durable goods data for July, set for release this morning, are expected to show a 4% drop, after growth in June and May, economists say. Volatile transportation orders, particularly commercial aircraft, are the reason, but if they were eliminated from calculation, orders likely increased by 5.2%, Spencer Jakab writes. An ELFA monthly index shows strong demand for equipment. "If Monday's durables data are as good as expected, they should lay some questions about the economy's staying power to rest," Jakab writes.

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