Amazon sold $16 billion in bonds this week and they had demand equivalent to the gross domestic product of the country Belarus. The money will be used to fund its acquisition of Whole Foods. (CNBC)
Factory output fell 0.1% in July, as auto production slowed. Overall industrial production, which adds output by mines and utilities, rose 0.2%. Mining output rose 0.5% and utility production rose 1.6%. (AP)
Americans filing for unemployment benefits fell to 232,000 near a six-month low. That is the lowest level since the week ending Feb. 25th when claims fell to 227,000, which was the best reading since March 1973. It was the 128th week that claims remained below 300,000. That is the longest such stretch since 1970, when the labor market was much smaller. (Reuters)
After five months of either stagnation or decline, NFIB’s Small Business Optimism Index finally showed increased optimism. In July, the Index increased by 1.6 points to 105.2—due to a surge in the labor market with job creation and more hiring.
Join us this weekend for Financial Focus Radio when we will answer the question – Is the Trump Trade Dead?
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.