Stocks are higher this morning as Fed Chair Janet Yellen gives a speech at 9:30 this morning and investors will look for clues on a possible June interest rate hike. (CNBC)
Sixty percent of business economists say that uncertainty about the November election is damaging prospects for growth this year. The National Association for Business Economics has reduced expectations for this year, seeing growth in gross domestic product at just 1.8%. Political uncertainty around the world is also a cause for concern, as 1 in 4 economists noted the rise of nationalist views around the globe as the most important factor holding back the world's economy over the next two years.
Jeld-Wen, once Oregon's largest private company, is officially going public. The company is now headquartered in Charlotte, North Carolina. The window-and-door manufacturer says it will sell $100 million in stock, but could sell as much as $500 million. Jeld-Wen nearly collapsed during the housing crash and sold to the Canadian private-equity firm Onex Corp. in 2011 for $871 million. (Oregon Live)
S&P 500 is up 6 and the NASDAQ is up 11. MSCI International Index is flat.
Oil is up a buck at $49.50 a barrel. The average price of gasoline is up six cents over the past two weeks to $2.37 a gallon. Gasoline has risen 60 cents over the past 15 weeks. The U.S. average diesel price is $2.39 per gallon, up 6 cents from two weeks ago. (AP)
Gold is up $2 at $1245 a Troy ounce.