S&P 500
1941.28
+37.27 +1.92%
Dow Indu
16614.81
+215.14 +1.31%
Nasdaq
4417.44
+101.37 +2.29%
Crude Oil
82.54
+0.05 +0.06%
Gold
1247.850
-0.300 -0.02%
Euro
1.272455
+0.000240 +0.02%
US Dollar
85.308
-0.089 -0.11%
Strong

Market Commentary and Intraday News

News Summary: US wholesale stockpiles rise

592 days ago

POWERFUL FIBONACCI PATTERNS. FREE Webinar Reveals:
- How to spot Wave Patterns you'd easily miss without Fibonacci tools
- How to forecast, find, and trade retracement & extension points
- Secrets of how to use Time & Volume to find hidden opportunities
- AND MUCH More.
Click Here

By The Associated Press

STOCKING UP: U.S. wholesalers boosted their stockpiles by 1.2 percent in January, the largest amount in 13 months even though their sales dropped 0.8 percent.

LUMBER JACK: The rise in stockpiles was led by a 3.4 percent gain in lumber inventories, a sign that building supply stores are expecting increased home construction. Stockpiles of furniture rose 0.9 percent in January. But farm inventories slipped 1.5 percent.

THE TAKEAWAY: Increased stockpiling supports economic growth by triggering greater factory production. Many economists believe improved inventory building will help lift economic growth to a faster pace of around 2 percent in the January-March period.


Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

INO.com on Facebook INO.com MarketClub on Twitter INO.com on Google+ INO.com YouTube

© Copyright INO.com, Inc. All Rights Reserved.