Money Market Guru — After reporting sharp increases in new orders for US manufactured goods in the two previous months, the Commerce Department released a report on Tuesday showing that factory orders saw further upside.
The Commerce Department said factory orders jumped by 1% in February after surging up by a revised 1.5% in January. Durable goods orders led the way higher once again, soaring by 1.8% in February after jumping by 2.4% in January. Reflecting a steep drop in the value of imports, the Commerce Department released a report on Tuesday showing that the US trade deficit narrowed by more than expected in the month of February. The Commerce Department said the trade deficit narrowed to $43.6 billion. — Money Market Guru