U.S factory orders slipped in April 0.6%, the the Commerce Department said Friday.
Economists surveyed by the Wall Street Journal expected a 0.2% decline, and the drop snapped an eleven-month string of consecutive increases going back to May of last year.
Orders for long-lasting durable goods fell 1.3% April, following a 1.3% increase in March
Orders for nondurable goods were up 0.1% in the month.
Orders for nondefense capital goods, excluding aircraft rose 3.4% in April, following a 1.1% decrease in March.
Stocks held on to gains driven by a jobs report that showed growth in employment, but not so strong that it risked the Federal Reserve tightening monetary policy. The S&P 500
was trading up roughly 0.7% Friday morning