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Weekly jobless claims ticked higher, but the labor market remains healthy. Initial claims for unemployment insurance for the week showed an increase of 15,000 from the prior week to 258,000. Claims remain below 300,000. This marks the 80th straight week below 300,000, the longest stretch since 1970. (LPL Research)
 
New single-family home sales moved to a seven-month high in February, increasing 6.1% to an annual rate of 592,000 units. Sales are up 12.8% year-over-year. At last month’s sales pace, it would take 5.4 months to clear the supply of houses on the market, down from 5.6 months in January. The median price for a new home fell 4.9% to $296,200 from a year ago. There was a 3.7% drop in sales of existing homes in February.  (Reuters)
 
Are they contenders for the market timers’ hall of fame? That empty room in Paducah Kentucky. Some 34% of mutual fund managers say stocks are "overvalued," according to a Bank of America survey. That's the highest level in the 17-year history of the survey. Some 80% of fund managers polled say the USA is the most overvalued part of the world. (CNNMoney)
 
Join us this weekend for the Financial Focus Radio Show when we will tackle this question – “Is the market ready to tumble?”
 
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.
 

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Help Puerto Rico

Most organizations are asking for cash, rather than supplies, so they can route help to where it’s needed most more quickly. Here are some of the largest groups with campaigns underway:

 

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  • Click on the link for the latest conditions on the mountain passes.

 

  • Intersection of NW Broadway Street and NW Delaware for waterline replacement project, road closures with detours clearly marked for thru traffic, 7 a.m. – 4 p.m. daily with roads opened nightly. Motorists are encouraged to avoid this area and use Bond Street and Wall Street.

 

  • Nels Anderson Road between Nels Anderson Place and Brandis Court, single northbound shoulder closure will be in effect, two-way traffic to be maintained. Project completion expected December 2017.