While the popular media seems obsessed with Dow 20,000 they are missing the real news. The Nasdaq hit another record yesterday working on its longest winning streak since early 2015. The S&P 500 closed just 2 points off a new high yesterday. (CNBC)
J.M. Smucker is raising prices of its packaged coffee such as Folgers and Dunkin' Donuts by an average of 6%. Smucker is the biggest coffee roaster in the US. It is seeing sustained increases in green coffee costs. K-Cup pods were excluded from the price increase. (Reuters)
Wholesale inventories rose 1.0% in November. The largest gain in two years as inventory investment supports economic growth in the fourth quarter. Wholesale stocks of farm products surged 5.0%, petroleum climbed 2.7%, and machinery inventories fell 0.2%.(Reuters)
U.S. crude production is expected to rise by 110,000 barrels per day in 2017 to 9 million. US crude overall production was 8.95 million bpd last week, the most since April of last year. Domestic crude inventories increased by 4.1 million barrels last week. (Reuters)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.