The Dow closed above the 25,000 level for the first time in history last week. It took only 23 trading days to go from 24,000 to 25,000--the fasted 1,000 point move ever. Of course, as you go higher the percentage needed to reach the next milestone is smaller, but this is still an impressive feat. (LPL)
Let’s drill into Fridays big jobs report. The retail sector posted job losses of roughly 20,000 in December. The downward trend in retail jobs is believed to be a result of an ongoing shift to e-commerce sales. Retail posted a net job loss in 2017 of 70,000. The construction industry posted a monthly gain of 30,000 jobs. Much of those increases came from specialty trade contractors, which added roughly 24,000 jobs. Manufacturing added 25,000 jobs during the month and 196,000 jobs last year. Wage growth at 0.3% month over month and 2.5% year over year. (CNBC)
Helen of Troy Ltd., makers of the brands Bedhead, Vicks, Brut, Dr. Scholl’s and Bend based Hydroflask, reported a quarterly loss of $30.4 million, after reporting a profit last year. That is a loss of $1.12 per share. The company posted sales of $453 million. Helen of Troy stock price has declined 0.5% in the first week of 2018 and has decreased slightly in the last 12 months. (AP)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.