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US DATA
US DATA: June wholesale inv +0.7% vs +0.6% in the advance estimate. The 
outlook for June business inv is +0.5% based on the already released 
+0.2% reading for factory inv and assuming no revision to the +0.6% for 
retail inv from the advance estimate. June wholesale sales +0.7%, so 
including -0.2% for factory shipments and assuming no revision to -0.1% 
for retail trade sales in last month's release, business sales would be 
+0.2%. Ex. autos, wholesale inv would have been +0.6% in June, and 
sales would have been +0.8%, according to an MNI calc. Wholesale durable 
inv +0.5% with auto inv +1.4%. Nondurables inv +1.0%, with -5.2% for 
petro. Durables sales flat (autos -0.5%), while nondurables sales +1.4% 
(petro +1.9%). Inv/sales ratio unch from May 1.29. See MNI main wire. 

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