Wholesale inventories tick down

Marketplace All-in-One

Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 8 May 2024

⏱️ 1 minutes

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Summary

Stocks close mixed; inventories higher than this time last year; rent growth outpaced wage growth since 2019; Uber, Lyft bookings rise.

Transcript

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0:00.0	This is the Marketplace Minute. I'm Justin Ho. Stocks were mixed on Wednesday. The Dow gained more than 4 tenth percent, but the NASDAQ fell 2 tenth percent. The S&P didn't change. Wholesaleers inventories fell in March from the month before,
0:17.2	down 4 tenths percent according to the Commerce Department. A lot of businesses are trying to keep
0:21.6	inventory levels to a minimum, especially since the cost of inventory has been rising.
0:26.0	In some categories, inventories are higher than they were this time a year ago, including autos, computing equipment, and machinery.
0:34.0	Rents have grown more than 30% on average since 2019,
0:37.8	according to the real estate website Zillow.
0:40.0	That's more than wages have grown in the same time frame.
0:42.8	Over the last year, wages outpaced rents.
0:46.3	And Uber says bookings on its platform
0:48.5	rose 20% last quarter, compared to the same time a year ago.
0:51.9	That's slightly less than Wall Street expected.
0:54.4	Liff said bookings rose about 20% as well.
0:58.0	I'm Justin Ho, with the Marketplace Minute. next minute.

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