Quick Overview

• The U.S. Commerce Department said that wholesale sales increased 1.5% in April, the biggest jump in over a year. Meanwhile, inventories increased 0.8%. The inventory-to-sales ratio fell to 1.18 from 1.19. The record low was 1.14 in April
  
  

• The U.S. Department of Energy said that crude oil supplies were down 3.0 million barrels to 330.8 million barrels. Unleaded supplies were down 100,000 barrels and heating oil supplies were unchanged.
  
  

• There is some concern about the spread of Asian citrus canker in Florida.

• Engine and heavy-equipment maker Caterpillar Inc. said Wednesday it would split its stock 2-for-1 and boost its quarterly dividend by 9 cents, following record sales last year.
  

• Canada's housing starts were at an annual rate of 218,800 units in May, down 5.0 %
  

• The Netherlands central bank cut its 2005 growth forecast from 1.7% to 0.4%.
  

• Average retail diesel prices are expected to remain above regular gasoline prices through 2006, the Department of Energy said in its monthly Short-Term Energy Outlook released Tuesday
  

• Peru's government on Wednesday lauded two new oil discoveries, saying the finds should boost optimism about finding more hydrocarbons to replace the Andean nation's dwindling oil supplies. Petro-Tech, the Peruvian unit of Houston-based Petro-Tech International, said its new well is producing 1,200 barrels of oil a day and its potential reserves could vary between 10 million and 50 million barrels of oil.