Wednesday’s sell-off left the Dow Jones in correction territory with losses in 9 of the past 11 sessions. The Nasdaq has declined 7 of the past 10 days, with the S&P 500 down in two of the past three days. (CNBC)
Fired Nike executive David Reichert has pleaded guilty to two counts of wire fraud. He defrauded Nike of more than $550,000. Prosecutors will ask that he serve 1 ½ years in prison and pay $400,000 in restitution. (OregonLive)
Eurozone April Manufacturing PMI came in at 56.2, the lowest it has been since March 2017. A strong euro, flu season, and weather were all named as potential reasons for the weaker data. Turning to China, their Manufacturing PMI was 51.1 last month, better than expected. (LPL)
Private companies added 204,000 jobs in April, according to the ADP jobs report. Service-related industries created 160,000 jobs while goods producers added 44,000, including 27,000 in construction.
Ahead of tomorrows big job report, LinkedIn Workforce Report says hiring jumped 19.8% percent in April. The report noted that employers report a need of people with marketing skills. (CNBC)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.