Business News

10 months without a 3% Correction

The Labor Department says worker productivity rose at a 1.5% annualized rate in the second quarter.  Compared to the second quarter of 2016, productivity increased at a 1.3% rate. That is the strongest performance in two years.
Wage growth has remained sluggish even as the labor market nears full employment as unit labor costs fell at a 0.2% rate.

CNBC is reporting Toys R Us has hired a law firm to help restructure its roughly $400 million in debt due in 2018, a move that could include the marquee toy store filing for bankruptcy protection.

Yesterday officially marked 10 consecutive months without so much as a 3% correction for the S&P 500. Dating back to 1928, this is now the second longest streak ever without a 3% correction, bested only by 11 months in the mid-1990s. (LPL Research)

American Outdoor Brands, the former Smith and Wesson saw a sharp drop in quarterly earnings and sales, and lowered its fiscal 2018 guidance, as the firearms business slows. (CNBC)

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