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The U.S. Commerce Department released factory orders data on Thursday. Factory orders in the U.S. rose 1.6% in January, missing expectations for a 2.0% gain, after a 2.9% decline in December. It was the biggest rise since June 2015.
The increase was mainly driven by a rise in orders for transportation equipment. Orders for transportation equipment climbed 11.4% in January, while orders for automobiles and parts climbed 2.9%.
Durable goods orders were jumped 4.7% in January.
Factory orders excluding transportation declined 0.2% in January, after a 0.9% drop in December. December's figure was revised down from a 0.8% fall.
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