Inflation at the wholesale level was unchanged in May. Energy prices fell 3% and food costs declined 0.2%. Prices did rise for services such as car rentals and retailing clothing, jewelry, footwear and accessories.
Core inflation, which excludes food, energy and trade services has climbed 2.1% over the last year. (AP)
Sears is cutting 400 full-time jobs at its corporate offices.
The company is restructuring in an efforts to reduce costs by $1.25 billion annualized. Last week, Sears said it would close an additional 66 stores, adding to the list of 180 closures that was announced earlier this year. Sears stock has shed more than 41%over the past 12 months and is down about 25% year-to-date. (CNBC)
The Chinese fixed income market are under pressure. With slightly slower growth in China, the People's Bank of China eased its tightening program. (LPL Research)
It is the coming wave in food service. Digital ordering is boosting sales at the soup and sandwich chain Panera Bread. It's poised to pass $1 billion in annualized digital sales this year. It expects to double that by 2019. (CNBC)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.