Business and Finance
FACTORY ORDERS fell 1.4% in June to an adjusted $191.03 billion as construction spending declined 0.2% to a $310.6 billion rate.</br></br>The stock market posted its biggest gain of the summer in response to the government data, which could indicate some moderation in the economy's rapid growth. The Dow Jones Industrial Average closed up 19.33, at 1134.61, on volume of 127,520,000 shares. Bonds also rallied on the news but later lost much of the gain. Precious metals futures soared.</br></br>---</br></br>Consumers Power requested a $7.07 billion rate rise to cover $3.5 billion in costs from its abandoned Midland, Mich., nuclear plant and to gain "a return on the investment." It also cut its quarterly dividend to 10 cents a share from 35 cents.</br></br>---