Business News

Target reported Third Quarter Profits

The S&P 500 Index has now gone 50 consecutive days without a 0.5% close lower, the longest streak since 57 in 1968. Additionally, with the 0.1% gain Monday, the S&P 500 avoided its first three-day losing streak in three months or 66 trading sessions. This is the longest streak without a three-day losing streak in 7-plus years. (LPL)

The Labor Department says producer prices rose 0.4% in September and in the last 12 months is up 2.8%. That is the biggest annual increase in wholesale inflation in over 5-1/2 years. Prices for services climbed 0.5%, and gasoline dropped 4.6%.

According to the NFIB’s latest Small Business Optimism Index, small business owners expect higher sales and view the present as a favorable time to expand. The 103.8 October Index, an increase from the previous month’s 103, continues a months-long positive streak dating to last November. Four of the Index components rose, five saw a slight decline, and one was unchanged.

Target reported third quarter profits of 91 cents per share on revenue of $16.67 billion. Same-store sales climbed 0.9%. Higher compensation costs including an increase in employee incentives and wage rates drove expenses higher. AP)

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

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