Bonds have been in rally mode ever since the Brexit vote. The U.S. 10-year Treasury closed yesterday at a record low of 1.38% and currently sets at 1.33%. Meanwhile Japan's 20-year government bond yield turned negative for the first time ever. (CNBC/Marketwatch)
New orders for factory goods fell in May by 1.0% after two straight months of increases. Manufacturing accounts for 12% of the US economy. Orders for transportation equipment fell 5.7%. Defense orders tumbled 28.1%. Inventories of factory goods slipped 0.1%, as companies reduced inventories. Inventories have declined in 12 of the last 13 months. Unfilled orders at factories have increased in four of the last five months. (Commerce Department)
Walgreens, the largest U.S. drugstore chain, posted profits of $1.1 billion last quarter a year earlier they earned $1.3 billion. Revenue rose to $29.5 billion.
Total sales at retail pharmacy locations in the U.S. climbed 3.7%. Internationally total sales fell 2.3% but increased 3.4% on a constant currency basis. Walgreens says its acquisition of Rite Aid is still expected to close in the second half of the year. (AP)
The maker of Twinkies, Hostess, has entered a deal with Gores Holdings to go public with an expected value of $2.3 billion. (Reuters)
S&P 500 is down 10 and the NASDAQ is down 29. MSCI International Index is down 1%.
Oil is down $0.50 at $46.13 a barrel.
Gold is up $15 at $1373 a Troy ounce. Gold is at two year highs. (Reuters)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.