U.S. factory orders rise for first time in three months

Factory orders rose 0.8% in May, the first gain in three months, the Commerce Department said Thursday. Economists surveyed by MarketWatch were expecting a 9.7% gain. Orders fell a revised 13.5% in the prior month and 11% in March as the economy was locked down from the pandemic. In May, durable goods orders rose 15.7%, only slightly down from last week's initial reading of a 15.8% increase. Orders for nondurable goods were up 2% in the month. Orders for nondefense capital goods, excluding aircraft rose 1.6% in May, down from the prior estimate of a 2.3% rise.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.