Business inventories rose 0.4% in March. Automobile supply posted its biggest increase since 2013 up 2.3%. Inventories are a key component of gross domestic product. (Reuters)
Producer prices rose in April by 0.2% as energy prices increased. In the last 12 months the PPI is unchanged. Inflation continues to be restrained by the lingering effects of the dollar's surge and oil price plunge. Last month, energy prices increased 0.2%, wholesale food prices fell 0.3% and chicken eggs tumbled 34%. (Reuters)
Retail sales in April recorded their biggest increase in a year as sales jumped 1.3%. Excluding automobiles, gasoline, building materials and food services, retail sales jumped 0.9%.(Reuters)
Costco and Wal-mart have them and now so will Amazon. The internet retail giant is rolling out private label food brands soon. The private label names will be Happy Belly, Wickedly Prime, and Mama Bear. They will be put on items like nuts, spices, tea, coffee, baby food, and vitamins. (WSJ)
S&P 500 is up 5 and the NASDAQ is up 11. MSCI International Index is up 0.25%.
Oil is up $1.09 at $47.26 a barrel.
Gold is up $12 at $1284 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.