George Noorey


George Noorey

10:00pm - 12:00am

Business News

Lots of economic data points this morning. Nonfarm productivity dropped by a 0.5% annual rate in the April-June period. It was the third consecutive quarterly decline. Strong employment gains have helped to raise output. Nonfarm payrolls increased by more than 500,000 jobs in June and July. Output per worker in the second quarter increased at a 1.2%.  Hourly compensation per hour rose at a 1.5%. (Reuters)
The struggling retailer Gap reported July overall company same-store sales fell 4%. They were flat at Old Navy, down 3% at the Gap stores and declined 9% at Banana Republic. The company is struggling to attract shoppers going to stores like Zara, Forever 21 and H&M. Analysts are predicting another decline in same store sales for August.  (CNN)
Wholesale inventories rose in June by 0.3%.  Wholesale stocks of farm products increased 4.0%, inventories of drugs surged 4.9% and auto inventories dipped 0.1%. Sales at wholesalers was up 1.9%. It would take wholesalers 1.33 months to clear shelves, down from 1.35 months in May. (Commerce Department)
S&P 500 is up 3 and the NASDAQ is up 5.  MSCI International Index is up 0.70%.
Oil is down 25 cents at $42.49 a barrel.
Gold is up $13 at $1359 a Troy ounce. Palladium is surging to a 14-month high.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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  • Hwy 20, Santiam Pass, 1-mile East of Suttle Lake to ORE 22 junction, up to 20 min DELAYS, Paving and Striping. 9am-5pm through 10/17
  • NE 3rd Street between NE Greenwood Avenue and NE Franklin Avenue for Citywide Pedestrian Safety Improvements, periodic lane closures with local access, 9/16/19 - 10/25/19, night work from 10 p.m. - 10 a.m.
  • 61st St CLOSED between Young Ave & Canal Blvd as part of the “Six Corners” Improvement (through 11/8)
  • SE 3rd between Hwy 97 and Murphy Road CLOSED 8pm – 5am (8/25-10/18)