US June factory orders -0.5% vs +0.5% exp

• Prior revised to -0.7% from -0.5%
• Durable goods orders revised to +1.3% from +1.6%
• Non-defense, ex-air to -1.7% from -1.4%

The factory orders report featured the largest drop in non-durable orders since March 2009. Energy seems to be a major drag.