Stocks are rising despite US durable-goods orders sink 2.2% and break the winning streak...

Orders at U.S. factories for long-lasting goods fell 2.2% in February to break a string of increases and business investment fell for the first time in a year, suggesting manufacturers are still struggling mightily with supply shortages. Orders for U.S durable goods — products meant to last at least three years — shrank for the first time in five months, the government said Thursday. Economists polled by the Wall Street Journal had forecast 1% decline.

The dropoff was concentrated in passenger planes and autos, two volatile categories that can swing sharply from one month to the next. Yet bookings were soft in every major category except for computers. A more accurate measure of demand, known as core orders, slipped 0.3% in the month. The core number strips out transportation and military hardware. It was first decline in 12 months.

The conflict in Ukraine could tax already strained global supply chains, as could a coronavirus outbreak in China. At home, the Federal Reserve is moving to raise interest rates to try to bring down high inflation.