The Commerce Department reports factory orders climbed 1.2% in January, meeting expectations. Orders have climbed for 6 of the last 7 months and are 0.3% excluding transportation. Orders for industrial machinery climbed 6.6%, while orders for photographic equipment fell 15%.
Geopolitical issues are in focus after North Korea fired four ballistic missiles into the waters off its east coast early Monday Seoul time. A Japanese government spokesman said three of those missiles had landed inside Japan’s Exclusive Economic Zone, an area that extends from its coastline to about 230 miles out to sea. That news drove gains for the Japanese yen and gold.
Congressional Republicans will introduce their bill to repeal and replace the Affordable Care Act this week, according to NBC News. Draft legislation would provide expanded tax credits and health savings accounts for individuals, while cutting spending on tax subsidies and Medicaid. It would eliminate the employer and individual mandates to provide and carry health insurance.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
