The S&P 500 gained 1.4% yesterday. The Nasdaq advanced 1.6%. The 10-year Treasury yield rose to a four-year high on Monday before closing at 2.858%. (CNBC)
With 70% of the S&P 500 reporting, fourth quarter earnings growth is up 14.7% year over year. A solid 78% have beaten earnings estimates. Energy, financials, and technology have been the biggest contributors to growth. S&P 500 revenue growth is tracking to an 8% year-over-year increase. Estimates for full-year 2018 now reflect an 18.5% increase over 2017. This week, 57 S&P 500 companies will report quarterly results. (LPL)
Restaurant Brands International owners of Burger King, Tim Horton's and Popeye's, said profits in the fourth quarter rose to $395 million. Total sales climbed 11% to $1.23 billion. Same-store sales at its Burger King restaurants jumped 4.6%. (AP)
Pepsi reported a fourth-quarter loss of $710 million. Earnings were hurt by a $2.5 billion one-time charge related to new U.S. tax laws. Sales growth in Europe Sub-Saharan Africa, jumped 11%, Latin America up 6% and North America down 6%. (AP)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.