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US factory goods orders for May -0.5% versus 0.2% estimate

Prior month 0.7%Factory goods orders MoM -0.5% versus 0.2% estimateFactory orders ex transportation MoM -0.7% vs 0.7% last month revised 2+0.5%Durable goods orders +0.1% vs the preliminary 0.1% gain (released six days ago). Prior month 0.2%Durable goods ex- transportation -0.1% vs -0.1% preliminary. Prior month 0.4%Durable goods nondefense capital expenditures/ex air -0.6% vs -0.6% preliminary. Last month +0.3%Durable goods ex-defense -0.2% vs -0.2% preliminary. Last month -0.5%

Both the factory orders and the ISM nonmanufacturing data was weaker than expectations. Yields have moved lower. Stocks are marginally higher but debating whether slower growth is good or bad for US stock prices

This article was written by Greg Michalowski at www.forexlive.com.

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