The capital markets here in the United States were closed yesterday in observance of the Presidents Day Holiday.
Investors this week will be looking for lots of potentially market moving events including the release of the Fed Meeting minutes, and 46 companies in the S&P 500 reporting earnings including retail bell weather Walmart. As usual Fed watchers will be closely listening to the potential for where interest rates are headed.
University of Michigan consumer sentiment index for February rebounded, with the index rising to 95.5 from 91.2 in January, which was the worst since November 2016. Economists had expected a 94.0 reading. The consumer sentiment rebound may be a bit of a relief after the depressing retail sales numbers for December, which showed the worst plunge in nine years. Low inflation expectations, combined with continued confidence in the jobs market and rising wages, should set the stage for consumption.
A record seven million Americans are more than 90 days late on their auto loan payments, and millennials are clearly leading delinquency rates, according to a report by the New York Fed. The NY Fed found that the number of new auto loans and leases appearing on credit reports in 2018 reached a new peak — the highest level in the 19 years they have monitored the data — at $584 billion.
With Northwest Quadrant Wealth Management I'm Tyler Simones