The percent of small business owners who expect better business conditions in the next six months jumped 12% last month, according to the NFIB Small Business Economic Trends Report. The NFIB Index of Small Business Optimism was essentially flat in September. Inventories fell seven points while hard-to-fill job openings plunged six points landing at 24%.
More bad news for big bank Wells Fargo. According to the Wall Street Journal Wells Fargo bank managers pushed employees to sign up customers for costly overdraft protection they did not need or realize they were getting.
Caterpillar was upgraded to "buy" from "neutral" at Goldman Sachs, on optimism about further stock gains. The heavy equipment maker was already the Dow's best year-to-date performer with a gain of nearly 30%. (CNBC)
Lobster had become affordable over the past few years, but now prices have hit their highest levels in 11 years thanks to demand. Demand comes with the popularity of the lobster roll which has become a hipster favorite. Lobster prices are now at wholesale prices of $6 a pound. The lobster market fell to historical lows, with wholesale prices hitting $3.70 in 2009. (Financial Times)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.