The Commerce Department said that wholesale inventories fell 1.5%, after wholesalers’ sales rose for the first time in eight months, by 0.6%—bringing the inventory-to-sales ratio down from 1.34 in January to 1.31 in February. Inventories were expected to decline by 0.7%.
A reduced economic outlook was revealed in the release of the minutes from the Federal Reserve's monetary policy meeting in March. Details from Bloomberg...
The Dow Jones Industrial Average rose 48 points (0.6%) to close at 7,837, the S&P 500 Index gained 10 points (1.2%) to 825, and the Nasdaq Composite increased 29 points (1.9%) to 1,591. Crude oil rose $0.87 to $50.02 per barrel, and gold lost $1.10 to $881.10 per ounce.
Magnificent Seven Update
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