Quick Overview

• EU producer price index rose 0.3% in June.

• U.S. factory orders fell 1.2% in June

• The U.S. savings rate rose to 6.4% in June -- the highest level in a year.

• U.S. pending home sales sank 2.6% to 75.7 in June, partly reflecting the end of a federal tax credit for first-time buyers of up to $8,000.

• Moscow says grain stocks will balance drought-ravaged crop – easing wheat prices back.

• (Bloomberg) -- Russia should ban grain exports this season temporarily to allow suppliers to renege on contracts as the worst drought in at least 50 years threatens to leave local demand unmet, Glencore International AG’s Russian unit said.

• Many popular dietary supplements contain ingredients that may cause cancer, heart problems, liver or kidney damage, but U.S. stores sell them anyway and Americans spend millions on them, according to Consumer Reports.