The yield on the 10-year Treasury climbed to 2.904% its highest level since January 2014, and slightly above the levels of earlier this month. The yield on the 10-year note hit the high exactly midway through the trading day yesterday. (CNBC)
The Commerce Department said retail sales fell in January by 0.3%. Consumer spending increased at a 3.8% annual rate in the fourth quarter. Auto sales fell 1.3%, service stations rose 1.6%, sales at building material stores dropped 2.4% receipts at sporting goods and hobby stores fell 0.8%.
The Labor Department reported consumer prices rose by 0.5% in January That was up 1.8% from a year ago. The 1.7% gain in apparel prices was the biggest since 1990. Women’s apparel costs jumped a record 3.4%, the report showed.
The networking equipment and software company Cisco had a quarterly profit of 63 cents per share last quarter. That beat estimates. They had their first year-over-year rise in revenue in more than two years and announced a $25 billion addition to its stock buyback program. (CNBC)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.