Consumer spending rose in February by 0.1%. Consumer spending accounts for more than two-thirds of U.S. economic activity. When adjusted for inflation, consumer spending fell 0.1% in February. (Commerce Department)
The personal consumption expenditures price index gained 0.1% in February. Year-on-year rate of increase in the PCE price index which measures inflation is 2.1%. That is the biggest year-on-year gain since April 2012. (Commerce Department)
Personal income rose 0.4% last month. Accounting for inflation wages increased 0.2%. Savings rose to a five-month high of $808.0 billion. (Commerce Department)
On the international front. Chinese PMI data remains relatively strong at 51.8. While not a robust figure, it is still the strongest official data since early in 2012. The Eurozone Consumer Spending Rose in February
Consumer Price Index (CPI) reading was softer than expected as full year CPI came in at 1.5% vs. the 1.8% expected. The softness of the data may take some pressure off the European Central Bank to begin tightening monetary policy. (LPL Research)
Haribo, maker of golden gummy bears, announced plans to open their first US factory in Wisconsin in 2020 and employ 400 individuals. Haribo employs 7,000 people worldwide at 16 sites in 10 countries. (Yahoo)
The S&P 500 is up 1 and the NASDAQ is up 6. The MSCI international index is flat.
Oil is up 12 cents at $50.72 a barrel.
Gold is down $2 at $1249 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.