U.S. factories cut back sharply on production in April, as automakers
produced fewer cars and most other industries scaled back. The Federal
Reserve said Wednesday that manufacturing output dropped 0.4 percent in
April from March, the third drop in four months and the biggest since
October.
The Empire Fed disappointed, the PPI missed expectations, and now, industrial production contracted, but stocks remain near all-time highs and are flat for the day. Insane market! Mirage market!
