Target is adding space to its toy business for the holiday season, as it tries to win more toy sales after Toys R Us went out of business earlier this year. (CNBC)
US industrial production grew by 0.3% in September. An increase in mining sector activity-which includes oil and natural gas extraction-which has been trending up with oil prices since 2015, helped U.S. industry output increase for a fourth straight month in September. Manufacturing output, the largest component of the index, continued to expand last month also rose for a fourth straight month. (LPL)
Housing starts for September that came in modestly below analyst forecasts and prior month figures. Hurricane Florence is credited with disrupting activity in the Southeast, which accounts for about half of starts and fell 13.7% from the prior month; expect Hurricane Michael to impact next month's report. On the positive side, permits for single-family homes were up 2.9% month over month, the biggest gain in a year, suggesting builders have a steady pipeline that could contribute to growth in the fourth quarter as consumer demand, helped by a solid job market and lower taxes, as well as post-storm rebuilding, overshadows headwinds including rising mortgage rates and property prices. (LPL)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.