Orders for manufactured goods surged in April, but continued to see weakness in business spending. Durable goods orders jumped 3.4% last month after an upwardly revised 1.9% increase in March. Manufacturing accounts for 12% of the economy. (Commerce Department)
U.S. home sales in April rose 5.1% moth over month, hitting the highest level in a decade. The National Association of Realtors pending home sales index up 4.6% from last April. The index in the West grew 11.4% monthly and is up 2.8% from a year ago. The inventory of existing homes for sale in April was 3.6% lower than a year ago.
Is this a rerun? Wells Fargo is offering a 3% down payment mortgage for first-time buyers and low-income buyers. The minimum FICO score for these loans is 620. (CNBC)
Another Oregon publically held company has been bought. Thermo Fisher Scientific, the world's largest maker of scientific instruments, is buying Hillsboro-based FEI for about $4.2 billion. The $107.50 per share offer represents a premium of 13.7% to FEI's close yesterday. FEI designs and manufactures electron microscopes. FEI employs more than 3,000 persons and generated revenue of $930 million in 2015.
Join us this weekend for Financial Focus Radio, the truth in wealth building, when we say thanks to those that have served this Country.
S&P 500 is up 4 and the NASDAQ is up 13. MSCI International Index is up 0.10%.
Oil is down 50 cents at $49 a barrel.
Gold is flat at $1223 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.