It is the last trading day of May. The Dow is set to post its fourth straight monthly advance, while the S&P 500 and Nasdaq appear set to mark a third straight month of gains. (CNBC)
Economic growth slowed in the first quarter although not as sharply as initially thought. Gross domestic product rose at a 0.8% annually. It was the weakest performance since the first quarter of 2015. The economy has been hurt by a strong dollar and sluggish global demand, which has eroded export growth. Spending on residential construction was up 17.1%. Consumer spending, which accounts for more than two-thirds of U.S. economic activity increased at a pace of 1.9%. (Commerce Department)
Norm Thompson Outfitters, Oregon's once-iconic catalog retailer has filed notice 46 employees will be laid off of the 82 people employed in Oregon. Thirteen of the remaining will work at a new satellite office near the current office and 23 could be relocated to Massachusetts or Pennsylvania if they want to move. The retailer is known for its upscale clothing. The company was founded in Oregon in 1949. In 2006, Norm Thompson was sold to San Francisco investment firm Golden Gate Capital. (OregonLive)
MSCI International Index is up 0.50%.
Oil is up 25 cents at $49.60 a barrel.
Gold is down $3 at $1214 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.