Early Update

10:41 a.m. ET Since the open, two data points have come in weaker than expected. Factory orders declined -0.7% month-over-month in February (consensus -0.5%) following a downwardly revised -2.1% decline (from -1.6%) in January. Shipments of manufactured goods decreased 0.5% month-over-month after increasing 0.3% in January. The key takeaway from the report is that manufacturing…