The S&P 500 Index hasn't had a single month of negative returns in 2017. That's NEVER happened through a full calendar year. If history tells us anything, this probably won't keep up. (Hartford)
For fiscal 2017 Costco earned $5.89 per share on sales of $129 billion, up almost 9% year over year. Same-store sales rose 3.8%. E-commerce sales were up 13%. Next year, Costco plans to open 25 net new stores, about two-thirds of which will be located in the United States. Costco shares are up about 4% year to date. (Seeking Alpha)
A little more on that September jobs report. Hurricane impact leads to first monthly job loss since 2010. U.S. payrolls fell 33,000. At the same time, the unemployment rate dropped from 4.4% to 4.2%, the lowest level since February of 2001. Wage gains accelerated, rising 0.5% month over month and 2.9% year over year. The hurricane impacts are clear with 1.47 million people reportedly unable to work due to bad weather (worst in more than 20 years), we also saw a sharp 100,000 decline in restaurants and bars employment. (LPL Research)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.