Business News

Longest Streak Dating Back to the 1930's

We've noted many times how the action so far this year is like nothing we've seen for decades, as it is a bull market amid historically low volatility. Well, here's another way to show that. The Dow has officially gone 52 consecutive trading days without a 1% intraday move--the longest such streak using data back to the 1930s. Additionally, the S&P 500 hasn't closed down so much as 0.5% for 40 trading sessions, the longest since 44 in 1995. Couple that with the usually volatile months of September and October that were historically dull in 2017 and this year continues to rewrite the history books. (LPL Research)

The ADP National Employment report says the private-sector added 235,000 jobs in September. The service sector accounted for the bulk of the job creation, adding 150,000 jobs. Professional and business services added the most positions, up 109,000. Job losses were seen in the trade, transportation, and information sectors, as well as education.

The Manufacturing ISM Report shows economic activity in the manufacturing sector expanded in October, and the overall economy grew for the 101st consecutive month. Manufacturing PMI in October 58.7 a decrease of 2.1 points from September. (ISM Report)

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

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