The Commerce department said that wholesale inventories fell 1.3% in August, a larger decline than the consensus, which called for a 1.0% drop, and July’s 1.4% decline was revised to a 1.6% decrease. The decline in inventories at the wholesale level was the 12th-straight monthly decline.More from Bloomberg...
The Dow Jones Industrial Average rose 61 points (0.6%) to close at 9,787, the S&P 500 Index gained 8 points (0.8%) to 1,065, and the Nasdaq Composite increased 14 points (0.6%) to 2,124. Crude oil added $2.12 to $71.69 per barrel, and the Bloomberg gold spot price increased $12.40 to $1,056.60 per ounce.
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