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In the first quarter of 2017, 400 U.S. CEOs surveyed by KPMG said they are “highly confident” in America’s growth engine over the next three years and see the U.S. as a top growth market.  They credit this to harnessing the power of disruptive technologies like artificial intelligence and machine learning, as well as fending off competition.

Neiman Marcus has been exploring a potential sale. This week it reported its fourth straight quarterly loss in the face of intense competition from online retailers. Same-store sales fell 5% for the quarter. Neiman Marcus posted a loss of $24.9 million in the quarter, compared to a profit of $3.8 million last year. (FBN)

Retail sales had their biggest drop in more than a year in May, down 0.3%.  Over the last year retail sales rose 3.8%.  Some of the drop in monthly retail sales reflected lower gasoline prices. (Reuters)

The cost of goods and services for American consumers fell in May for the second time in three months as inflation continues to slow. The consumer price index, fell 0.1% last month. Inflation over the past 12 months slowed to 1.9% in May from a five-year high of 2.7% just four months ago. (MarketWatch)  

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.