Stocks sold off yesterday with the NASDAQ retreating below the 5000 level after trading above 5000 for the first time in 15 years. Investors did some profit taking after data came out that car sales in the US last month were weak after much of the country experienced bad car shopping weather.
Shares of Target traded higher yesterday after the company announced they would eliminate several thousand jobs and told investors digital business is a top priority. The company said they will spend $1 Billion this year on e-commerce.
American CEO's announced $104 Billion in stock buybacks last month. That is the largest amount of stock repurchases by companies since they began tracking that data. CEO's either think their stocks are cheap or they have no other way to grow their earnings per share.
The payroll company ADP is out this morning with their private sector employment report showing the US economy added 212,000 jobs in February. That number is down from the 250,000 jobs added in January.
And the 3 most popular breweries in the state of Oregon as judged by Oregonians are: @ number 3 the Eugene based Ninkasi brewery, #2 the Bend based Deschutes brewery, and at #1 the Portland based Widmer brothers.