Retail sales were flat in July as Americans cut back on purchases of clothing and other goods. Sales are up 2.3% from a year ago. Online retail sales climbed 1.3%, while sales at clothing stores fell 0.5%. (Commerce Dept.)
Producer prices fell in July by 0.4%, pointing to a tame inflation environment. In the 12 months through July, the PPI slipped 0.2%. Energy prices fell 1.0%, prices for services fell 0.3%, and healthcare costs increased 0.3%. (Labor Department)
The Index of Consumer Sentiment hit 90.4 in August. Consumers' more favorable prospects for the overall economy offset a small pullback in personal finances. The assessment of current economic conditions hit 106.1 in August, fading slightly from July's 109.0. (University of Michigan)
Great story in The Atlantic online this month about Kent Couch owner on the Shell gas station on Hwy 20 and 27th and the Growler Guy franchise. This man is a real innovator. http://www.theatlantic.com/business/archive/2016/08/convenience-store-owner/494756/
S&P 500 is up 5 and the NASDAQ is up 10. MSCI International Index is flat.
Oil is up 25 cents at $44.75 a barrel. Oil has seen a 10% rally since the start of the month
Gold is down $5 at $1346 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.