Business News

This Bull is No Record

Since March 9, 2009, the S&P 500 has gone more than 1,790 trading day without, a bear market, a decline of 20% percent or more, making it the second-longest bull market in history.  It trails on the 3,100 trading day streak from Dec. 4, 1987, to March 24, 2000 (CNBC)
New single-family home sales fell 1.5% in March to an annual rate of 511,000 units. The decline was concentrated in the West region down 23.6%. The West has seen a sharp increase in home prices amid tight inventories. New housing inventory is less than half of what it was at the height of housing bubble. (Commerce Department)
The maker of Post-it notes, tape and medical supplies, 3M, reported a 2.2% fall in first quarter sales mostly due to slow growth in emerging markets and China.  The strong dollar was also a head wind. Profits rose to $1.28 billion, up almost 7%. (Reuters)
Procter & Gamble, maker of Head and Shoulders Shampoo and Crest Toothpaste, reported sales declined for the seventh quarter in a row.  But the company did cut its cost of goods sold by 11% and was able to raise prices by an average of 1%. Profits fell 7%, mostly due to the strong dollar. (Reuters)  
S&P 500 is up 6 and the NASDAQ is up 12.  MSCI International Index is flat.
Oil is up 54 cents at $43.18 a barrel.
Gold is down $6 at $1235 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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