Investor concerns over "overinvestment" in AI and its negative externalities are intensifying, putting pressure on SaaS and private credit-related stocks.
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US factory orders rose by 0.1% month-on-month in August; AI infrastructure supports manufacturing, but decline in aircraft orders offset part of the increase
The U.S. Census Bureau reported on Friday that factory orders in August increased by 0.1% month-on-month, in line with market expectations, and rose by 6.8% year-on-year. The July month-on-month increase was revised down from 0.9% to 0.8%. Orders for machinery and electrical equipment grew by 1.1% month-on-month, while orders for civilian aircraft and parts saw a significant decline of 4.3% month-on-month. Excluding aircraft, non-defense capital goods orders increased by 1.6% month-on-month.
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