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Factory Orders Rebound Strongly in July
Factory Orders Rebound Strongly in July
Despite Manufacturing PMIs sliding, US Factory orders were expected to rebound from a two-month decline in July (the latest data reported today) and rebound they did, rising 0.9% MoM (more than the expected 0.7% increase) with June's 0.3% decline revised up to a 0.2% decline...
That is the best monthly rise since April, lifting orders up 9.9% YoY - the second best annual gain since Oct 2022!
Core Factory orders rose 0.6% MoM (significantly better than the expected 0.4% rise)...
That is the 8th rise in Core...
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This Is Only Fifth Time QQQs Gapped Down When Within 2% Of An All Time High
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