The Commerce Department said U.S. homebuilding surged to near an 11-year high in May up 5% from last month. Building permits fell 4.6%, the lowest level since September 2017.
Barron’s reported fewer than half of US consumers look past the first five options, or the first page of results, at least half the time when searching for products on ecommerce sites.
Research published by Cowen & Co. found the amount of retail overlap between traditional retailers and online commerce continues to trend upwards. Cowen found that 87 percent of Target shoppers also visited Amazon, while 83 percent of Walmart consumers also shopped on the online platform.
The combined wealth of the world's millionaires rose for a sixth straight year, topping $70 trillion for the first time ever in 2017 thanks to an improving global economy and strong stock market performance. (USA Today)
General Electric is being dropped from the Dow after being included in the 30-stock index for 111 years. It will be replaced by drugstore chain operator Walgreens Boots Alliance. (CNBC)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.