TWIN PEAKS: Orders placed with U.S. factories rose 1.5 percent in June as strong demand for airplanes, machinery and autos pushed the economic indicator to a record high for the second consecutive month. Total orders peaked at $496.7 billion.

THE TAKEAWAY: Manufacturing struggled in the early part of this year, held back by weaker global growth and steep government spending cuts. But those trends may be starting to reverse.

WHAT'S HOT/NOT: Demand for oil and gas drilling equipment rose 44.1 percent and transportation products orders rose 12 percent, led by a 32.1 percent for commercial aircraft. But orders for nondurable goods such as chemicals, paper and food fell 0.6 percent.