Investing.com – U.S. business inventories rose more-than-expected in May, official data showed on Thursday.
In a report, the U.S. Census Bureau said that wholesale inventories rose by 1.0% in May, above expectations for a 0.7% gain.
The previous month’s figure was revised to an increase of 1.0% from a previously reported 0.8% rise.
Following the release of the data the U.S. dollar was down against the euro, with EUR/USD gaining 0.5% to trade at 1.4234.
Meanwhile, U.S. equity markets were broadly higher after the open. The Dow Jones Industrial Average jumped 0.55%, the S&P 500 index advanced 0.55%, while the Nasdaq Composite index climbed 0.65%.
In a report, the U.S. Census Bureau said that wholesale inventories rose by 1.0% in May, above expectations for a 0.7% gain.
The previous month’s figure was revised to an increase of 1.0% from a previously reported 0.8% rise.
Following the release of the data the U.S. dollar was down against the euro, with EUR/USD gaining 0.5% to trade at 1.4234.
Meanwhile, U.S. equity markets were broadly higher after the open. The Dow Jones Industrial Average jumped 0.55%, the S&P 500 index advanced 0.55%, while the Nasdaq Composite index climbed 0.65%.