Business News

Coming down the Homestretch of the Quarter

So far for September, the Dow and S&P 500 are lower, but the Nasdaq is higher. All three are posting strong quarterly advances, with the Nasdaq leading the way, up 9.5%. But with 5 trading days left in the month and quarter anything could happen. (CNBC)

US manufacturing slipped in September.  The Markit Economics' purchasing managers' index fell to 51.4. The report also noted that new business growth continued to ease from June's peak and that export orders dropped for the first time since May. The report noted there was a moderate upturn in payroll numbers.  Any number above 50 does indicate expansion in the economy. (Business Insider)

The bad news just keeps coming for Wells Fargo Bank. Wells Fargo is the target of a class action by two former employees. They're seeking $2.6 billion for workers who were demoted or fired, after failing to reach aggressive sales goals. (Reuters)

The nation’s largest producer of eggs Cal-Maine Foods shares are down 7.52% in early trading after posting a quarterly loss. Revenue plunged 60.7% year-over year to $239.8 million. Cal-Maine was hurt by a 58% decline in the average customer selling prices of eggs. (The Street)

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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