Business News

Factory Output Climbs

Stocks are lower this morning, following yesterday's losses of about 1%. The S&P 500 and Nasdaq have declined four of the past five sessions. (CNBC)
Factory output expanded in April by 0.3%. Overall industrial output rose 0.7%. Mining output fell 2.3%.  The industrial sector has been hurt by a slowing global economy and strong dollar. Manufacturing output has been flat or negative in four of the last six months. Industrial capacity use jumped 0.5% to 75.4%. (Reuters)
Consumer prices posted their biggest increase in more than three years last month up 0.4% as gasoline and rents jumped. Medical and food prices also increased. In April, gasoline prices jumped 8.1%, the largest gain since August 2012. Food prices rose 0.2%. (Reuters)
Lowe's, the home improvement chain saw profits rise to $884 million, up 31% from a year earlier. Lowe's raised its full-year profit forecast to $4.11 per share from about $4. Sales at stores open more than a year climbed 7.3%. (Reuters)
The CEO of Gap says he would consider Amazon as a distributor of the company's products, saying to not consider Amazon as a possible outlet for sales would be "delusional." (Bloomberg)
MSCI International Index is up 0.05%.
Oil is up 7 cents at $48.38 a barrel.
Gold is down $1 at $1276 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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