Business News

Strong Dollar Impacts Profits

The rally continues as the Dow and S&P 500 closed yesterday at highs for the year.

U.S. housing starts hit a one-year low in March. New starts decreased 8.8% to an annual pace of 1.09 million units. Single-family starts fell in all four US geographic regions last month. Starts for multi-family units declined 7.9%. New building permits dropped 7.7%, the lowest level since March last year. Permits for single-family homes decreased 1.2% in March. Multi-family building permits crashed 18.6%. (CNBC)

Cabela's stock gained 6.36% yesterday on reports Bass Pro Shop and Goldman Sachs were teaming up to buy the firm.  (Reuters).

Coca-Cola's first-quarter sales fell 4% to $10.28 billion mostly due to the impacts of the strong dollar. The world's largest beverage maker had a profit of $1.48 billion down over 5% from last year. (AP)

Oregons largest employer, Intel, will cut up to 12,000 jobs globally, or 11% percent of its workforce, as it refocuses its business towards making microchips that power data centers and mobile devices and away from the declining personal computer. Sales of products for the data centers accounted for 40% of revenue and operating profit. Intel profits climbed over 7% to $13.70 billion. (Reuters)

MSCI International Index is flat.

Oil is down 75 cents at $40.29 a barrel.

Gold is down $4 at $1250 a Troy ounce.

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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