Stocks posted record highs yesterday. The S&P 500 gained 0.7% to finish at 2,599. The index broke above 2,600 for the first time ever during the session. The tech-laden Nasdaq rose 1.1% to 6,862. Markets are closed tomorrow and will hold an abbreviated session on Friday.
According to the National Association of Home Builders home builder sentiment rose to 70, up two points in November. This number is the highest since March of this year and the second highest on record. The index stood at 63 in November of last year.
Smucker, owners of Jif peanut butter, jams, Folgers and Dunkin Donuts-branded coffee, Meow Mix and 9 Lives hiked prices on Jif and Smucker's-brand jellies 6% last January. That pushed sales up 1% last quarter, and profits in its consumer food division was up 10%. (CNNMoney)
Mrs. Reinhart did not get the memo. A survey of 1,000 PNW residents conducted by Washington State University's Carson College of Business said 64% aren't planning to partake in Black Friday 2017 by going out. 65% say they will likely shop online instead.
Join us this weekend for Financial Focus Radio when we will host a post-Thanksgiving wealth building feast.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.