Markets look to move higher this morning as we move to within 1% of all-time highs. Yesterday Fed Chair Janet Yellen said there likely will be two rate hikes this year, contrary to current market expectations. (AP)
Daimler Trucks North America is laying off 170 workers at its Portland plant. This comes as the company reduces its North American headcount by 1,240. Daimler employs some 1,000 in Portland. The layoff is expected to be temporary. The action is effective July 1st. (Portland Business Journal)
Last December the U.S lifted its 40-year old ban on exporting crude oil. Since then oil exports have increased sevenfold. The U.S. exported 15.7 million barrels of oil in March that is 508,000 barrels per day. Japan and Italy were the biggest buyers. Exports were almost 6% of total U.S. production. (CNN)
FedEx is raising its quarterly dividend by 60% to 40 cents a share. The hike is significantly higher than the delivery company's past two dividend increases. (WSJ)
S&P 500 is up 4 and the NASDAQ is up 10. MSCI International Index is up 1.12%.
Oil is up 50 cents at $50.19 a barrel. Oil prices hit nearly eight-month highs, after crude increased 2.2% Monday closing at its highest price since July 2015. (Reuters)
Gold is down $8 at $1240 a Troy ounce. After sliding 6% in May gold has risen about 2.4% percent so far in June. (CNBC)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.