US Stocks finished at another record high yesterday as solid economic data offset concerns about Europe’s stability in the wake of a rejection of Italy’s vote on Sunday to reform existing constitutional rules.
The broader stock market rose after a survey showed that the services side of the economy grew at its fastest pace in November in a year. The Institute of Supply Management nonmanufacturing index climbed to 57.2 last month. Any reading over 50 indicates economic expansion.
Amazon.com announced yesterday it has opened a brick-and-mortar grocery store in Seattle without lines or checkout counters, kicking off new competition with supermarket chains. Amazon Go, the online shopping giant's new 1,800-square-foot store, uses sensors to detect what shoppers have picked off the shelf and bills it to their Amazon account if they do not put it back. The store marks Amazon's latest push into groceries, one of the biggest retail categories it has yet to master. The company currently delivers produce and groceries to homes through its AmazonFresh service. Shares if Amazon traded $19 higher on the news.
Some 78% of U.S. households will display Christmas trees this year, an American Christmas Tree Association (ACTA) study found. The xmas tree association found that the average price for a natural tree is on the rise; it was $50.82 in 2015 — a 22% increase from 2014 and a 28% increase from 2008. These prices have increased over the past five years and may spike higher this year due to droughts and tree shortages after growers have left the market. For specialty and exotic kinds of trees, some people are shelling out as much as $1,000, including delivery and set up. In 2015, $1.32 billion was spent on real trees — 32% of which were cut down and purchased from tree farms and 26% were bought from tree lots and other stores.
With Northwest Quadrant Wealth Management I’m Tyler Simones