- The Commerce Department reported Friday that the June deficit jumped 6.1 percent to $55.8 billion, compared to a May deficit of $55.4 billion. US exports were steady in June at $106.8 billion while imports were up 2% at $165.6 billion, blamed on higher energy prices. Oil prices moved to record highs above $67 a barrel on Friday as investors worried over the world's stressed capacity to refine crude oil.
- The University of Michigan's consumer sentiment index fell from 96.5 to 92.7 in August, lower than expected.
- Investment bank Morgan Stanley said on Friday it got rid of 1,000 underperforming brokers from its ailing retail brokerage unit but remains committed to keeping -- not selling -- this business.
- The USDA's 2005-2006 U.S. ending stocks estimate for:
Corn is reduced from 2.24 to 1.90 billion bushels.
Soybeans were reduced from 210 to 180 million bushels.
Wheat is reduced from 700 to 634 million bushels.
Sugar is reduced from 904,000 to 785,000 tons.
Cotton is increased from 6.70 to 7.00 million bales.
The USDA's 2005-2006 world ending stocks estimate for:
Corn is reduced from 114 to 108 million tons.
Soybeans were reduced from 51 to 48 million tons.
Wheat is reduced from 143 to 141 million tons.
Cotton is increased from 49 to 50 million tons.
- Mexico's central bank held monetary policy steady on Friday although signs that inflation is under control and new concerns over economic growth could move it to push interest rates lower in coming weeks.
- The Brazilian government increased its estimate of the 2005-2006 coffee crop from 32.4 to 33.3 million (60 kg) bags.
- YoY Retail sales in China were up 12.7% in July
- Canada's exports were up 1.8% in June to C$37.2 billion while imports were up .2% at $32.3 billion.
- France's GDP was up 0.1% in the second quarter and up 1.2% from a year ago.
- Japan's real GDP was up 0.3% in the second quarter and 1.4% YoY. GDP growth in the first quarter was revised higher, from an annual rate of 4.9% to 5.4%.
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