Wells Fargo is in more hot water as U.S. regulators are said to be preparing sanctions for the bank for receiving commissions on auto insurance policies that were forced on more than 500,000 customers. (Reuters)
Walmart is expanding its online grocery delivery service to 800 stores by the end of 2018. The expansion will serve more than 40% of U.S. households. Walmart's grocery delivery business will be supported by a number of partners, including Uber. It expects to make online order pickup of groceries available at about 2,200 stores before 2019. Shoppers will pay a flat delivery fee of $9.95, and an order must contain at least $30 worth of items. (CNBC)
Housing starts fall more than expected. Housing starts in the United States fell 7.0% month over month in February dragged down by multifamily construction starts which dropped more than 26%. Building permits also fell for the month, with permits for single-family homes slipping 0.6%. Despite the drop, it is important to remember that housing starts remain near post-recession highs, and the rate of construction in January was the highest since 2008. In addition, the market remains buoyed by a strong labor market and firm economic fundamentals. (LPL)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.