The Philadelphia Fed manufacturing index surged to 41.4, quadrupling the consensus estimate of 13 and signaling unexpected strength in the US factory

The July Empire State Factory Index came in at 15.6, well above the 8.8 estimate, signaling strong manufacturing growth and shifting the Fed rate outlook.

The Philadelphia Fed manufacturing index surged to 41.4, quadrupling the consensus estimate of 13 and signaling unexpected strength in the US factory