YoY factory orders are the weakest since 2021, the end of the Trump economy. Core orders ex-aircraft and defense showed positive growth but the big ticket items were down significantly.
Financial markets were mixed as the positive non-core number is a problem for the Fed and inflation. Smart money is watching the Fed for insight into future moves.
Factory Orders (MoM)(Jan) printed at -1.6% vs -1.8% expected.
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