Business News

Stocks Rise, Gold Falls

November is in the books and all three major U.S. indexes recorded sharp monthly gains. The Nasdaq and S&P posted their best month since July, while the Dow had its best month since March. (CNBC)

Those signing contracts to buy existing homes rose 0.1% in October over the prior month. The index was 1.8% higher than October of 2015. Demand is high but supply is weak, down - from 2015 levels. Pending home sales in the West rose 0.7% month-over-month and is up 2.5% annually. (National Association of Realtors)

The nations consumer spending increased in October by 0.3%. Consumer spending accounts for 70% of U.S. economic activity.  Inflation continues gain steam with the personal consumption expenditure (PCE) price index up 0.2%. In the last 12 months the PCE index is up 1.4%.  Personal income was up 0.6%. Wages and salaries were up 0.5% for a second straight month. Savings increased to $860.2 billion That was the highest level since March 2016. (The Commerce Department)

Dollar General reported third-quarter profits of $235.3 million on sales of $5.32 billion.  Both results missed Wall Street expectations. Dollar General shares are up nearly 8% in 2016 (AP)

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

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