News

: U.S. factory orders fall 0.6%, snapping 11-month growth streak

0

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
SPX,
+0.62%

was trading up roughly 0.7% Friday morning

Buy This, Not That: Freebie alert: Get 4 months of Amazon’s ad-free, 75-million-song streaming music service free

Previous article

MarketWatch Premium: Don’t get too optimistic about a stock market rally — they’ve been fizzling out

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in News