Stocks rallied to record highs yesterday after the world’s two largest economies reportedly agreed to remove existing trade tariffs, sparking a huge rotation into equities and out of bonds.
 
The number of people who applied for unemployment benefits in early November fell to the lowest level in a month and clung near a half-century low, reflecting the resilience of the strongest labor market in decades.
 
Shares of Disney are higher after the company reported an earnings beat for its fiscal fourth-quarter.  The company earned $1.07/share, vs. 95 cents that was expected.  Disney’s fiscal fourth-quarter earnings arrive just days before the company’s long-awaited streaming service, Disney+, is set to launch on November 12. The service costs $6.99 per month, or $69.99 per year, and will feature content from Disney, Pixar, Marvel, Star Wars and more.
 
Mortgage rates dropped in the past week after rising in six of the last nine weeks, including most of the month of October.  The 30-year fixed-rate mortgage averaged 3.69% during the week ending Nov. 7, down three basis points from the previous week.  The rate on the 30-year mortgage is over a full percentage point lower than it was at this same time a year ago, when rates averaged 4.94%.
 
With Northwest Quadrant Wealth Management, I'm Tyler Simones