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The stock market rallied yesterday, with the Nasdaq posting a record finish as investors welcomed a deluge of stronger-than-expected corporate earnings reports and economic data.  Comments from Treasury Secretary Steven Mnuchin that President Donald Trump’s tax reform is not linked to the outcome of the healthcare bill also bolstered sentiment.

Initial jobless claims rose by 10,000 to a still-low 244,000 in mid-April. Meanwhile, the number of out-of-work people collecting unemployment checks fell to a 17-year low last week, underscoring the strongest U.S. labor market in years.
The US manufacturing index slid in April, but from high levels, suggesting slower growth in the factory sector after a postelection surge.  The index fell to 22.0 from 32.8. It had hit a 33-year high of 43.3 in February and has receded every month since then.

The gap between an index of leading economic indicators and one of current economic indicators is at its highest since the eve of the recession — suggesting either a sharp upward turn in the economy is imminent, or a sharp downturn is imminent.

Shares of Dow component American Express gained more than 6% following a first-quarter earnings beat. The credit card company reported earnings of $1.34 a share on revenue of $7.9 billion.  Analysts had anticipated $1.28 a share in earnings. Excluding its Costco-related revenue decline, sales came in 7% higher than a year earlier.

With Northwest Quadrant Wealth Management I’m Tyler Simones
 

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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.