Business News


The S&P/Case-Shiller Home Price Index rose by 5.4% in March from the same time last year. Limited supply of homes on the market is supporting price gains. The biggest gains continue to be found in the Pacific Northwest where in Portland prices rose 12.3% year over year. Seattle rose 10.8% and Denver up 10%. (CNBC)
 
Lots of consumer data. Consumer spending recorded its biggest increase in more than six years in April up 1% last month. The PCE price index rose 0.2% last month. In the 12 months through April the PCE rose 1.6%. Personal income increased 0.4% last month. Wages and salaries rose 0.5%. Spending is outpacing income, savings fell to $751.1 billion last month from $809.4 billion in March. (Reuters)
 
Apple will issue bonds in Taiwan raising $1 billion.
In December, Intel $915 million of 30-year bonds with yields of 4.7% and Anheuser Busch InBev issued $1.47 billion in 30-years bonds at 4.92%. These U.S. dollar bonds have are callable after the second year. (Reuters)  
 
Under Armour issued a sales warning based on the bankruptcy of sporting goods retailer Sports Authority. UA says it will only see about a quarter of the revenue it had originally expected from sales at the bankrupt retailer. (CNBC)
 
S&P 500 is down 6 and the NASDAQ is down 11.  MSCI International Index is down.
 
Oil is down 50 cents at $48.50 a barrel.
 
Gold is up $4 at $1222 a Troy ounce.
 
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.
 

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