– Factory Orders Plunge 5th Month In A Row As ISM New York Crashes Most Since 2007 (ZeroHedge, Feb 3, 2015):
On the heels of the biggest crash in ISM New York since May 2007 (swinging from 9 year highs at 70.8 to 6 year lows at 44.5 in one month), Factory Orders plunged 3.4% in December (against an expectation of a 2.4% drop) – the biggest drop since Mar 2013 (ex last year’s Boeing swing). Factory Orders 3.6% YoY drop is the largest since Nov09. Which explains why stocks are soaring… (despite Fed’s Bullard saying “there is a lot of momentum in the US economy.”)
…