Key Insights
- Factory Orders decreased by 3.6% month-over-month in October.
- Factory Orders ex Transportation declined by 1.2%.
- SP500 pulled back towards session lows after the release of the report.
On December 4, U.S. released Factory Orders report for October. The report indicated that Factory Orders declined by 3.6% month-over-month, compared to analyst consensus of -2.8%.
Factory Orders ex Transportation declined by 1.2%, while analysts expected that they would grow by 0.3%.
FedWatch Tool indicates that there is a 99.7% probability that Fed will leave the federal funds rate unchanged at the upcoming meeting on December 13. Markets have already started to…
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