Business News

Homebuilder confidence still strong

The Dow posted its first close above 18,000 since July 20th last year and the best level of 2016 yesterday.
U.S. home builders' confidence held steady in April at 58. It has not changed in three months. Readings above 50 indicate more builders view sales conditions as good, rather than poor. The index had been in the low 60s for eight months until February. (National Association of Home Builders)
Sales and profits are falling at more of America's biggest companies. Those reporting stronger sales dropped to the lowest level in seven years. This according to the National Association for Business Economics.  
IBM reported first-quarter revenue that was the worst in 14 years.  Revenue fell 4.6% to $18.68 billion. IBM also posted its 16th straight quarter of revenue decline. (Reuters)
Johnson & Johnson, the maker of Band-Aids and Tylenol, reported quarterly profits of $4.29 billion essentially flat year-over-year. Sales rose 0.6% to $17.48 billion. The company's pharmaceutical unit accounted for 45% of its sales last year.
Oil is down 43 cents at $40.21 a barrel.
Gold is up $14 at $1248 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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