This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Wholesale Inventories Up, Top Estimate

WASHINGTON D.C. ( TheStreet) -- Wholesale inventories for November were up by 1.5%, beating a Thomas Reuters economists' forecast of a 0.2% dip from the October inventories level. The economist estimate on November sales was also lower than the reality, with a gain of 3.3%, versus an expected marginal rise of 0.9%.

The better-than-expected wholesale report was set against the worse-than-expected job numbers that were released on Friday morning, which had sent both the S&P 500 and DJIA down in early trading.

Economists had predicted the drop in inventories because the November gain of 0.3% was the first gain in 13 months. The inventory spike was still 11% lower than the year ago level.

However, November sales were up 0.6% versus the year ago level. What's more, in contrast to the long decline in wholesale inventories before the October-November period, November was the eight-straight month that sales had risen.

Inventories and sales of farm products far outpaced the gains in other sectors, up close to 30%, while petroleum products had the second-largest gains, of 7%.

-- Reported by Eric Rosenbaum in New York.

Follow TheStreet.com on Twitter and become a fan on Facebook.

Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $128.95 0.00%
FB $78.99 0.00%
GOOG $537.90 0.00%
TSLA $226.03 0.00%
YHOO $42.51 0.00%

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs