ADP says that private sector payrolls in August grew at its fastest pace in five months as companies added 237,000 positions. Service-related industries gained 204,000 jobs, construction 18,000 and manufacturing 16,000.
The Commerce Department says economy grew faster than initially thought in the second quarter with gross domestic product growing at a 3% annual rate.
A homeowner lawsuit accuses Wells Fargo of improperly charging thousands of customers nationwide to lock in interest rates when their mortgage applications were delayed. (Reuters)
Last week the S&P 500 Index posted its 50th consecutive week without posting a weekly decline of at least 2%. How meaningful is a streak of 50 consecutive weeks without a 2% drop? Well, for starters, this is only the sixth time in history it has happened. 2017 has been a very unvolatile year as far as markets are concerned. (LPL Research)
Gas prices could rise 25 cents a gallon or more for several weeks as the energy industry recovers from hurricane Harvey according to GasBuddy. The flooding has shut down 13 refineries, erasing more than 10% of U.S. gasoline production capacity.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.