Logistics sector slows in April

Marketplace All-in-One

Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 7 May 2024

⏱️ 1 minutes

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Summary

Stocks close mixed; inventory levels growing at a slower pace; consumer credit rises; TikTok sues over ban-or-sale law.

Transcript

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0:00.0	This is the Marketplace Minute. I'm Justin Ho. Stocks didn't do much on Tuesday. The Dow and the S&P rose about a tenth of our percent, and the NASDAQ fell a tenth of our percent.
0:13.4	The logistics sector grew in April at a slower pace than in March.
0:17.2	That's according to the Logistics Manager's Index.
0:19.4	It says inventory growth slowed down a lot.
0:21.9	That could be a sign that companies over-ordered in March
0:24.2	or that they're uncertain about the path of interest rates because loading up on
0:28.2	inventory requires a lot of borrowing. Consumer credit rose in March, according to the Federal Reserve, it grew at an annual rate of 1.5%.
0:37.0	That's the slowest pace since December. Credit card debt and other types of revolving credit barely rose at all.
0:43.0	And the social media company, Tic-Toc, sued the US government
0:47.0	after President Biden signed a law requiring a sale of the company or an outright ban.
0:51.0	Tic-Toc's owner, Bightance, has said it will not sell the company by the January deadline.
0:56.8	I'm Justin Ho, with the Marketplace Minute.

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