The S&P 500 has recovered about two-thirds of the losses from the recent sell-off, with the Nasdaq recovering about 80%. Both are on five-session winning streaks. (CNBC)
The Labor Department said U.S. producer prices accelerated 0.4% last month. The PPI rose 2.7% in the 12 months. Last month, the cost of hospital outpatient care surged 1.0%, wholesale goods prices increased 0.7%, and gasoline prices rose 7.1%.
The National Association of Home Builders Confidence Index was unchanged in February from the prior month, remaining at 72. A year ago, the index was 65.
Coca-Cola's profits dropped 20% for the quarter. Organic sales were up 6%. Earnings in the period were hurt by a $3.6 billion one-time charge related to new U.S. tax laws. For the year, Coke reported sales of $35.4 billion, down 15% from last year. Water sales grew 2%, coffee and tea grew 2%, carbonated soft drinks were flat and juice, dairy, and plant-based drinks declined 2%. Coca-Cola boosted its annual dividend by 5.4% to $1.56 a share.
Join us this weekend for Financial Focus Radio when Tyler and I will tell you how to respond to these rising interest rates.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.