Business News

Earnings Season Gets Going

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.
 

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