Preliminary data on US durable goods orders during March are set for release at 8:30 a.m. ET.
Economists forecast that orders for goods built to last rose 1.9%, according to Bloomberg. Excluding transportation orders, they forecast a 0.5% rise.
Capital goods orders for nondefence items excluding aircraft are estimated at 0.6%, while shipments of the so-called core capital goods category are estimated to have climbed 0.9%.
Core capital goods orders have fallen in four out of the past five months. "Falling shipments of farm, construction and oilfield machinery have driven the declines, and we see risks that some of those categories could have fallen again in March," Bank of America Merrill Lynch economists said.
Unless there are big upward revisions, the Fed's statement due Wednesday would likely repeat that "business fixed investment and net exports have been soft," according to Deutsche Bank.
We'll have the latest at the bottom of the hour, so refresh this page for updates.