US factory orders slump in April
1. U.S.-manufactured goods orders declined sharply in April. 2. Business spending on equipment is losing momentum, affecting market sentiment.
FAQ
Why Bearish?
A sustained decline in orders signals reduced economic activity; historically, similar trends led to S&P downturns.
How important is it?
A decline in orders impacts overall economic growth and investor confidence, historically affecting the S&P 500.
Why Short Term?
Immediate effects likely due to decreasing business confidence impacting Q2 earnings.