US Industrial Production was expected to rise (+0.3% MoM) for the 9th month of the last 10 in February (the last 'clean' pre-COVID print before last March's collapse, which will spark YoY comp chaos). But, instead, industrial production tumbled 2.2% MoM - the biggest plunge since April 2020. That pushed the YoY drop in production down to 4.25%...

Source: Bloomberg

We assume there are weather-related factors driving this weakness - but did analysts not know that Texas suffered from a massive crisis?

Utilities rose 7.4% in Feb. after falling 0.6% in Jan.

Mining fell 5.4% in Feb. after rising 2.1% in Jan.