Don’t let this market correction scare you into doing something silly. This market correction is long overdue, healthy and part of a normal market. As long as your portfolio is well diversified, spread across the major asset classes and quality in nature you have nothing to fear. If you have long maturity bonds, interest rate sensitive products and risky investments now is the time to seek qualified advice. Just to put this in perspective, markets are still up for 2018.
Wage pressures increased in January, with average hourly earnings rising 2.9% year over year, an expansion high. (LPL)
The Commerce Department said orders for U.S.-made goods increased 1.7% in December. In December, orders for machinery rose 0.4%, orders for transportation equipment surged 7.1%, orders for electrical equipment, appliances and components fell 0.9% and orders for computers and electronic products slipped 0.1%.
The University of Michigan's survey of consumer attitudes for January slipped to 95.7 in January. The index now sits only 1.1 points below the 96.8 average reading for 2017 – the highest yearly average in 17 years. The index reached 101.1 in October, the highest level since 2004.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.