Business News

In the Green - 12 Out of 12 Times

The S&P 500 is up 6.0% YTD in January. Since 1950, when markets are up greater than 5% or more the full year finished in the green 12 out of 12 times with an average gain of 24.8%. The final 11 months closed higher 11 out of 12 times with only 1987 lower. (LPL)

Disney will pay over 125,000 employees a one-time cash bonus of $1,000 because of the passage of a tax bill. The company will also make a $50 million investment into a new employee education program. (CNBC)

Toys R Us will close 180 US stores, about one-fifth of its U.S. stores. Closures will begin in early February. The company is trying to emerge from bankruptcy. (CNBC)

The National Association of Realtors said existing U.S. home sales fell 3.6% in December. Existing home sales, which account for about 90% of all U.S. home sales, rose 1.1% on a year-on-year basis in 2017, the highest level since 2006. The number of previously owned homes on the market dumped 11.4% to its lowest level since January 1999. Housing inventory was down 10.3% from a year ago. It has declined for 31 straight months on a year-on-year basis. The median house price increased 5.8% in 2017, rising for the sixth straight year.

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

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