Stocks are essentially flat this morning. Friday's surge pushed the S&P 500 to break a three-week losing streak and the Nasdaq to end a streak of four down weeks in a row. (CNBC)
U.S. existing home sales increased 1.7% in April to an annual rate of 5.45 million units. Home sales surged in the Midwest by 12.1% and also rose in the Northeast while the South and West saw declines.
The number of unsold homes on the market rose 9.2% to 2.14 million month over month. But inventory is down 3.6% from a year ago. First-time homebuyers rose to 32% of all buyers from 30% a year ago. Nationwide, the median home price is $232,500. That is an increase of 6.3% from last year. (National Association of Realtors)
Monsanto the seeds and chemicals maker received a bid from German drug maker Bayer in a deal worth a total of $62 billion. The $122 per share in and assumed debt is a more than 20% premium to Friday's closing price. (CNBC)
Boeing has won an $11.3 billion jet order from Vietnam's VietJet, (Reuters)
MSCI International Index is flat.
Oil is down 60 cents at $47.82 a barrel.
Gold is down $3 at $1250 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.