U.S. ECONOMICS: Factory Orders Bounce
June factory orders rebounded a better-than-expected 1.1% after the 0.6% decline in May. Durable orders were boosted to a 1.7% increase from the 0.7% gain registered in the advanced report. Transportation orders rose 1.3%. Orders excluding transportation rose a solid 1.1%. Capital goods orders excluding aircraft surged 3.3%. Shipments increased 0.5%, with the closely tracked non-defense capital goods index excluding aircraft up 0.1%. Inventories rose 0.3% after a 0.8% May jump (revised from 0.9%). The inventory-to-shipment ratio held steady at 1.31.