Business News

Lots of Money Being Borrowed

Those green machines, Deere & Co, cut its money making forecast as they suffer through a global farm recession and weak construction equipment markets. The company forecast 2016 sales will decline 9%. Deere profits fell to $495.4 million. Sales decreased 4% to $7.88 billion. (Reuters)

The index of leading economic indicators shot up 0.6% in April confirming a solid month for economic data. The index had been essentially flat for five months and this is the first gain for the index since November. Manufacturing was good with factory hours the second largest positive. Building permits were another major boom area. The only negative of the 10 index components was consumer confidence. (

Auto sales are at a near record levels and so is the amount of money borrowed to buy those cars, trucks and SUVs.  Auto loans topped $1 trillion for the first time ever in the first quarter of 2016. Up 10% from a year ago. In the first quarter leases jumped 27% to an all-time high of $76.9 billion. (Experian)

U.S. credit-card balances are on track to hit $1 trillion in 2016. Credit card balances are nearing levels last seen just before the 2008 financial crisis. (Wall Street Journal)

Join us this weekend for Financial Focus Radio ( ) when we will talk taxes with our CPA friend Greg Fowler or Fowler & Associates.

S&P 500 is up 9 and the NASDAQ is up 21.  MSCI International Index is flat.

Oil is down 10 cents at $48.07 a barrel.

Gold is up $2 at $1257 a Troy ounce.

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

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