A federal judge says Wells Fargo must face a lawsuit holding it responsible for investor losses stemming from its mortgage-backed securities sales. Investors may pursue claims alleging breach of fiduciary duty. (Reuters)
DuPont will divest part of its crop protection business to FMC Corp, while acquiring FMC's health and nutrition business. DuPont will get $1.6 billion to compensate for the difference in the value of the assets. The deal is part of DuPont's commitment to European regulators to win approval for its planned merger with Dow Chemical. (CNBC)
GDP growth for the fourth quarter of 2016 was revised slightly higher to 2.1%. The upward revision was mainly driven by a better picture of consumer spending. The first estimate of GDP for the first quarter of 2017 will be released on April 28, with expectations tracking to another quarter of near 2% growth. (LPL Research)
Initial claims for unemployment insurance for the week showed a decrease of 3,000 from the prior week. Claims remain comfortably below 300,000, which is generally associated with a healthy labor market. (LPL Research)
Join us this weekend for the Financial Focus Radio Show when we will tackle this question – “Is volatility back?”
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.