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New orders for manufactured goods have continuously increased since last September amid persistent supply-chain disruptions and a robust demand for goods. Economists expect new data from the Commerce Department to show manufacturing orders in the U.S. rose in May at a faster clip than in April.
The Federal Reserve releases minutes from its June monetary-policy meeting, at which officials approved a 0.75-percentage-point increase in its benchmark federal-funds rate, its biggest rate rise since 1994. The minutes should provide more details on the internal discussions over the decision.