Eugene-headquartered Papé Group, has purchased Rowand Machinery of Spokane. Terms of the deal were not disclosed. Rowand Machinery is a John Deere dealer and has been in operation for 55 years. Papé now has 23 locations in Oregon, Washington, Idaho, California and Nevada. (Spokane Tribune)
Data related to economic activity remains largely supportive of slow and steady growth. Inflationary pressures remain elusive. Globalization, aging demographics, technological innovation, slow wage growth, and less than desired productivity gains have all combined to dim potential price increases, especially on the services side. Productivity continues to lag the average annual pace of +2.1% since WWII. Weakness in output-per-hour-worked has weighed on economic growth and living standards, and if it persists, will have a critical effect on the future trajectory of wages, prices, gross domestic product, tax receipts, and federal budget balances. This suggests a lack of urgency for the Fed to increase interest rates from current levels. (LPL Research)
Dick's Sporting Goods shares are down almost 16% as Q2 profits rose to $112.4 million, from $91.4 million a year ago. Sales rose 9.6% to $2.2 billion. Both fell short of street expectations. Same-store sales for the year are now expected to be between flat to down. (CNBC)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.