- Prior wholesale inventories 2.3%
- wholesale inventories advanced for April 2.1% vs. 2.0% estimate. The prior month was revised higher to 2.7% from 2.3%
- retail inventories ex auto for April 1.7% vs. 3.5% last month (revised from 2.5%)
Also inventories have increased by over 2% for 3 consecutive months now and 4 of the last 5 months. As the economy transitions from buying goods to spending money on services, this may alleviate supply constraint issues and bring down prices of goods/inflation.
US stocks are a bit higher in premarket trading after 2 days data
- Dow industrial average is up 82 points
- S&P futures are implying a 22 point rise
- NASDAQ futures are implying a 109 point rise