The U.S. Commerce Department released factory orders data on Thursday. Factory orders in the U.S. rose 0.2% in February, exceeding expectations for a flat reading, after a 0.7% drop in January. It was the largest increase since July 2014.

January's figure was revised down from a 0.2% fall.

The increase was driven by higher orders for non-durable goods. Non-durable goods orders jumped by 1.8% in February.

Durable goods orders fell 0.2% in February.