Business News

Consumer Confidence Slides

It’s tax day.  Don’t forget!!!
March U.S. industrial production fell 0.6%, more than expected.  Industrial production fell at an annual rate of 2.2% in the first quarter. The industrial sector has been undermined by a slowing global economy, a stronger dollar, and lower oil prices which have eroded demand for U.S. manufactured goods. (Reuters)
The Index of Consumer sentiment was 89.7 in April. Lower than expected.  It was the fourth consecutive monthly decline. Consumers reported a slowdown in expected wage gains, weakening inflation-adjusted income expectations, and growing concerns that slowing economic growth would reduce the pace of job creation. (CNBC)
PepsiCo makers of Pepsi colas, Gatorade and Tropicana fruit juices reported quarterly profits declined nearly 24% to $931 million mostly due to charges associated with foreign investments. The company cut costs and demand rose in North America for its snacks, including Cheetos and Lay's chips. Sales in the North America snacks business, accounts for more than a quarter of its total revenue. Pepsi’s total sales fell 3% to $11.86 billion, the sixth straight quarter of decline. (Reuters)
Oil is down $1.67 at $38.69 a barrel.
Gold is up $5 at $1239 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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