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Concerns about global trade and Turkey shouldn't be dismissed as misplaced or paranoia. Though mostly currency driven, we have seen some signs of fundamental deterioration recently in the form of earnings estimate reductions for the MSCI EM Index. Specifically, over the past three months, EM estimates for the next 12 months have come down by 3.9%, while comparable S&P 500 estimates have risen 3.5%. (LPL)

Wholesale used-vehicle prices climbed 1.51% last month. The increase in prices lifted the Manheim Used Vehicle Value Index to 136.9, the highest level ever recorded by the auto auction company. The index is also up 5.1% in the past year.

The Wall Street Journal reports the USDA monthly world Agricultural Supply and Demand Estimates, forecast that US soybean production will reach a record-high 4.6 billion bushels in 2018-19.

Bloomberg says Amazon captured around five percent of retail spending in the US last year, excluding cars, car parts and restaurants and bars. Rival Walmart took around 10 percent of such spending. With Amazon’s revenue increasing its share of that spending may rise to six percent this year.

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.                                      
 

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