August Factory Orders Reverse Out July Gains In Transportation first appeared on Floating Path.
New orders for manufactured goods plummeted 10.1% in August to $502.0 billion. This decrease follows a 10.5% increase in July. Excluding transportation, new orders decreased 0.1%. New orders are up 4.0% from a year ago.
ARK Invest is known for targeting high-growth technology companies, with one of its most recent additions being DraftKings. In an interview with Maverick's Lee Ainslie at the Robinhood Investors Conference this week, Cathie Wood of ARK Invest discussed the firm's process and updated its views on some positions, including Tesla. Q1 2021 hedge fund letters, Read More
Shipments decreased 1.0% to $503.1 billion, following a 1.4% increase in July.
Unfilled orders increased 0.6% to $1,164.5 billion, following a 5.3% increase.
Inventories increased 0.1% to $653.9 billion, following a flat month prior.
The inventories-to-shipments ratio was 1.30, up from 1.29 in July.