More importantly, factory inventories fell for the sixth straight month, dropping 0.6 percent. Reductions in inventories, while bad for GDP readings, are good for business because they increase the probabilities that factories may begin to boost production again. Excluding transportation equipment, orders were unchanged in July after falling 2.7 percent in June. Non-defense capital goods orders, a measure of businesses capital investment plans, fell 1.3 percent in July, excluding aircraft, after falling 3.1 percent in June. World Markets Asian markets were boosted by the merger agreement between Hewlett Packard and Compaq.
Many Asian companies are suppliers to the computer giants.
The benchmark Nikkei 225average closed up 3.49 percent at 10,772.59, while the broader Topix index rose 2.65 percent to close at 1,100.13. In Hong Kong, the Hang Seng index rose 2.15 percent, to close at 11,136.86. European markets are trading higher, Monday. Princor Financial Services and Principal Life Insurance Company make no judgement or warranty with respect to the accuracy, timeliness or suitability of the content of any of the services herein provided. Reference to a fund or security included anywhere in this service is not a recommendation to buy, sell, or hold that or any other security.