Business News

New Unemployment Claims Set Record Low

As we start of trading this Friday, the Dow, S&P 500, and Nasdaq are on track to post back-to-back weekly declines. We closed lower on Thursday, but well off the worst levels of the session. The Nasdaq is on its longest losing streak in three months. (CNBC)

Americans filing for unemployment benefits were at a 43-year low this week. Initial claims for state unemployment benefits stand at 246,000. It has been 84 consecutive weeks that claims have been below the 300,000 threshold, which is associated with robust labor market. That is the longest stretch since 1970, when the labor market was much smaller. (CNBC)

JPMorgan Chase, the largest U.S. bank by assets and revenue, saw quarterly profits fall 8% from a year ago, to $6.29 billion. Higher revenue in retail and investment banking was offset by more reserves to cover bad loans. Revenue rose 8.2% to $24.67 billion. (AP)

HP Incorporated, maker of printers and PC’s, issued a down beat 2017 forecast. They plans to cut 3,000 to 4,000 jobs over the next three years. (WSJ)

Join us this weekend for Financial Focus Radio when we will tell you why your bonds may not be safe.

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

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