The Commerce Department said U.S. retail sales increased 0.8% in November. That is almost three times expectations as the holiday shopping season got off to a brisk start.
The Labor Department said U.S. import prices climbed in November by 0.7%. Imported petroleum products had their largest year-on-year increase in seven months. In the last 12 months import prices are up 3.1%.
Costco had a profit of $1.36 per share for the quarter. Sales came in slightly above forecasts. Same-store sales jumped a super-sized 10.5% and e-commerce sales surged a gigantic 43.5%. The stock is moving higher by 3% in early trading – those prices are all time highs, (AP)
Wells Fargo is cutting 60 jobs in its mortgage unit, according to The Wall Street Journal, as it continues to revamp its business following increased scrutiny by federal regulators. (CNBC)
Staring today select Regal Cinemas will offer Cheetos-flavored popcorn mixed with crunchy Cheetos pieces. Of course, the Beaver-like bright-orange, puffed corn snack will comes in a giant 32-ounce container. (TODAY)
Join us this weekend for Financial Focus Radio when we will talk about a Santa Claus rally.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.