Archive for the ‘Wholesale’ tag
Friday’s Events: Canadian Employment; U.S. Unit Labour Costs & Nonfarm Prod
The Canadian employment report will highlight Friday’s economic
releases as U.S. markets receive a first look at second-quarter nonfarm
productivity and unit labour costs followed by June wholesale
inventories.
U.S. May Wholesale Inventories Just Above Forecasts
U.S. wholesale inventories rose 0.8% month-over-month
in May, marginally above expectations for a 0.7% advance, while the
previous month’s figure was revised to a 1.4% gain from a previously
reported 1.3% rise, according to a report released Friday by the
Department of Commerce.
IndyMac Joins Roster of Banks to Fold its Mortgage "Tent."
IndyMac has announced that, effective yesterday, it
is closing both its wholesale and retail production channel and will no
longer accept any new mortgage loan submission or rate locks. It will
also reduce its workforce to around 3,200 from the
current level of 7,400. The bank will also, apparently, continue its
other retail banking operations.
The stock had reached $.71 cents Monday after trading as high as 31.32
in the last year and was delisted from NASDAQ.