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Breaking News Factory Orders Decline in May 1.0%

Factory Orders Decline in May 1.0%
10:00 AM ET 7/5/16
The S&P 500 (-0.7%) has ticked higher in recent action after briefly testing support near the 2084/2085 price level.

Just released, the Factory Orders Report for May showed a decline of 1.0%, which compares to the consensus of -0.9%. The April reading was revised to 1.8% (from 1.9%).

Seven sectors continue to trade in the red as energy (-1.8%), financials (-1.3%), and materials (-1.2%) round out the leaderboard. Conversely, telecom services (+0.4%) and utilities (+0.2%) lead.

The U.S. Dollar Index (95.68, +0.03) has ticked higher in recent trade as the greenback extends its lead over commodity-currencies. The dollar/Canadian dollar pair trades lower by 0.9% (1.2964) after ticking off the 1.2890 price level earlier this morning. Separately, the dollar has lost 1.0% against the yen (101.61).

July 5, 2016

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Johnnie R. Maul

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