Earnings season starts today with the big banks. Leading the way is Bank of America. They reported profits of 40 cents per share on revenue $19.99 billion. Net interest income increased 6% to $10.3 billion in the fourth quarter, while loan balances climbed by $19 billion to $915.9 billion. Bank of America's net charge-off ratio improved to a historic low of 0.39%. Total mortgage production rose 29% year-over-year. (CNBC)
China's exports decreased 6.1% in December. For all of 2016 Chinese exports dropped 7.7% the biggest decline since 2009. Chinese imports declined 5.5%. (CNBC)
Your federal tax refund will most likely be delayed this year. You will have to wait a few weeks longer to get your check as the IRS cracks down on fraud.
Tax filing starts January 23rd. Direct deposit e-filers historically received their refunds within 21 days. Now it will be more like 35 days. (AP)
Apple's iPhone 7, iPhone 7 Plus and iPhone 6s accounted for 31% of smartphone sales in the US for the three months ended Nov. 30. (Recode)
Join us this weekend for Financial Focus Radio when we will talk about a President Trump and your stocks.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.