Business inventories rose 0.7% in June, ahead of the estimate of a 0.5% rise. Sales increased 1.7%, bringing the inventory-to-sales ratio to a lean 1.23. Details from Bloomberg...
The Dow Jones Industrial Average fell 110 points (0.9%) to close at 11,533, the S&P 500 Index declined 4 points (0.3%) at 1,286, and the Nasdaq Composite dipped 2 points (0.1%) to 2,429. Crude oil rose $2.99 to $116.00 per barrel, and gold rose $19.20 at $828.40 per ounce.
Magnificent Seven Update
