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Retail sales increased 4% in the holiday shopping season, better than expected. The number is higher than the 10-year average of 2.5% growth. Online shopping increased 12.6%. (National retail Federation)

The Index of Consumer Sentiment hit 98.1 in January. That is equal to December. (University of Michigan)

Wholesale prices rose 0.3% in December. The producer price index increased 1.6% in 2016. That's the biggest 12-month gain since September 2014, but still historically low. The biggest gains came in wholesale gas prices, up 7.8%. (Labor Department)

More consolidation in the tobacco world. British American Tobacco is buying the remainder of rival Reynolds American it doesn't already own.  The purchase price is a sweetened $49.4 billion. British American Tobacco already owns 42% of Reynolds American. (Reuters)

Growth in the phone market is not done yet. A new IHS Markit study says the global smartphone install base will grow 50% over the next four years to six billion devices.  Those smart phones will generate an estimated $355 billion in revenues.  

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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