Business News

Stocks are on track for their seventh consecutive day of losses for the S&P 500.  That would be the indices longest losing streak in five years. Markets could be moved today as the Federal Reserve completes its two-day meeting with a policy statement at 11am our time. (CNBC)

Construction spending fell in September by 0.4%.  Spending on private construction projects dipped 0.2%.  Spending on private nonresidential structures, factories, hospitals and roads, fell 1% the largest drop since December 2015. Public construction spending declined 0.9%, falling to its lowest level since March 2014. (CNBC)

U.S. manufacturing continued to expand with the Institute for Supply Management Index coming in at 51.9 for the month of October. An increase of 0.4% from September. (AP)

Columbia Sportswear is moving its Sorel boot subsidiary and 45 jobs back to downtown Portland. The new site has enough space for an additional 40 jobs. Sorel revenue is projected to hit about $220 million this year, more than four times its sales from 2008. Columbia bought the Sorel brand out of bankruptcy for $8 million. (Oregon Live)

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

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