October 19, 1987, 30 years ago today, the Dow plunged 508 points or about 23% in one day. An equivalent Black Monday drop today would push the Dow down about 5,000 points. (CNBC)
The Financial Industry Regulatory Authority (Finra) has ordered Wells Fargo to pay more than $3.4 million in restitution for selling customers “unsuitable” volatility-linked exchange-traded products and for failure to supervise its reps. (ETF Advisor)
The Commerce Department reported homebuilding fell to a one-year low in September as housing starts decreased 4.7%. Building permits fell 4.5%. Single-family home starts fell 4.6%. Multi-family housing starts fell 5.1%.
This could impact markets. President Trump will announce his choice for chair of the Federal Reserve on November 3rd before departing for an 11-day trip to Asia. (LPL Research)
WD-40 Company declared a quarterly dividend of $0.49 per share, payable October 31st. The company will release quarterly results after the closing bell. (PR News Wire)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.