U.S. stocks edged up in volatile trade yesterday, with the Dow Jones Industrial Average closing at another record level, as the theme of rotational buying into new leaders such as financials and dividend-rich telecommunication shares continued. The market’s momentum, however, was subdued as investors appeared to trade cautiously after the blue-chip’s gauge notched an all-time high in the previous session.
It’s December which means the big banks on Wall Street are making their forecasts for the stock market in 2017. Before you listen to these forecasts you should know that you have the same chance about being right about what stocks will do next year as the supposed experts. Less than 20% of the forecasts of the supposed experts are correct about where stocks will end next year, so stop listening to them.
There was a large surge in the productivity of U.S. companies and employees in the third quarter. Productivity rose at an annual 3.1% pace in the three months covering July through September. Additionally Unit-labor costs rose .7% in the 3rd quarter which could spark the inflation flame.
Shares of Boeing were lower Tuesday, after President-elect Donald Trump tweeted that an order for the aerospace giant to build a new Air Force One should be canceled because of rising costs. Just prior to the tweet, the stock was trading unchanged. "Boeing is building a brand new 747 Air Force One for future presidents, but costs are out of control, more than $4 billion. Cancel order!" Since becoming the President Elect Trump has sent shares of publicly traded companies both higher and lower based on tweets about the companies.
With Northwest Quadrant Wealth Management I’m Tyler Simones.