It was the unofficial kickoff of earnings season and Alcoa beat on profit expectations but missed estimates on sales. The metals giant says they will eliminate up to 2,000 jobs. (CNBC)
While rates may be low, mortgage credit availability actually tightened in March. The tightening came largely in conventional loans, while government programs such as FHA and VA lending relaxed slightly. (Mortgage Bankers Association)
 
Puerto Rico released a new debt restructuring proposal offering general obligation holders about 74 cents on the dollar. The plan would reduce $49 billion of the island's debt to between $32 billion and $37 billion.  (Reuters)
 
Small business confidence fell to a two-year low in March as owners worry about sales and profits. The National Federation of Independent Business Small Business Optimism Index dipped to 92.6.  It has declined from a reading of 100 in December 2014 and is off its 42-year average of 98. (Reuters)
 
Oil is up 25 cents at $40.59 a barrel.
 
Gold is up $3 at $1261 a Troy ounce.
 
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.