Business News

The Institute for Supply Management's manufacturing index climbed to 59.7 in December. That marks the 103rd consecutive month of growth for the manufacturing sector.

The Commerce Department said U.S. construction spending increased by 0.8% in November, to an all-time high of $1.257 trillion.

The Mortgage Bankers Association says applications to refinance fell 7% but were up 1.8% for 2017. Mortgage applications to purchase a home, increased 1% for the week and was 3% higher in 2017. The average interest rate for 30-year fixed-rate mortgage was 4.25% to end 2017.  

J.C. Penney says same-store sales climbed more than 3% during the holiday shopping season.

Oil prices hit new highs yesterday as West Texas crude closed yesterday up $1.26, or 2.1%, at $61.63, marking its best closing price since December 2014. International benchmark Brent crude closed up $1.27, or 1.9% at $67.84, also a closing high going back to December 2014. (CNBC)

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

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