U.S. stocks halted a multiday tumble yesterday, with the three main equity benchmarks advancing as Turkey’s currency slide abated, allowing investors to focus instead on a healthy domestic economy and strong corporate results.
The National Federation of Independent Business small business optimism index rose 0.7 points in July to 107.9. The NFIB said it was the second-highest level in history and just under the 1983 peak. The single most important issue flagged by small businesses were concerns about the quality of available labor.
The debt burden of U.S. households is the smallest it’s been in nearly 16 years. Household debt — including mortgages, credit cards, auto loans, student loans and other credit, is $13.29 trillion, which relative to disposable income is the lowest it’s been in 16 years.
Home improvement retailer Home Depot reported earnings and revenue that beat expectations and upped their outlook. It is the continuation of a trend that has persisted for a few years: in the face of lean housing inventory and little new supply on the horizon, Americans are increasingly choosing to take matters into their own hands.
With Northwest Quadrant Wealth Management, I’m Tyler Simones