CNBC reports that most small businesses still rely on word-of-mouth advertising, and 45% said they do not have a website. Only 36% of the small businesses surveyed use a business website to communicate news to customers and potential customers.
The publication Advanced Manufacturing reports April U.S. cutting tool consumption totaled $168 million, with a year-to-date total of $716 million, up 3.5% compared to 2016.
The market continues to expect slower trajectory of interest rate hikes. The Fed's post-FOMC statement leaned hawkish in that they continued to have an upbeat view of the economy, and didn't scale back on rate hike projections. However, despite this hawkish bent, market expectations for rate hikes fell slightly. Markets are currently pricing in a 46% chance of a rate hike by the end of 2017. (LPL Research)
FedEx quarterly earnings were $4.25 per share on sales of $15.7 billion. Both better than expected. The stock has been on a tear, gaining more than 12% in 2017. (Thomson Reuters)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.