whats got the market spooked

Maybe its the Factory Orders that gets announced tonight in the US premarket?




Market Consensus Before Announcement
Factory orders in May jumped 1.2 percent. Strength was in durables but nondurable goods orders were boosted by somewhat higher oil-related prices, rose 0.7 percent. Notably, May was a strong month for aircraft but other components generally were solid. But the latest advance report on durables orders for June reversed direction with a sharp 2.5 percent drop. Most of the weakness was in civilian aircraft orders as excluding transportation, durables still rose 1.1 percent in June. So it is almost guaranteed that the headline factory orders number will be quite negative although higher oil prices will likely boost nondurables. Markets will likely focus on any revisions to durables excluding transportation.