The S&P 500 gained 4.3% last week, for the best weekly gain since early 2013. Of course, this comes on the heels of a 5.2% drop the week before. Nonetheless, after the quickest move to a 10% correction from a new high ever (9 days) for the S&P 500, the recent bounce is quite impressive. (LPL)
With about 80% of S&P 500 companies having reported fourth quarter 2017 results, earnings growth is tracking to a 15% year-over-year increase, 3% better than expectations. Quarterly revenue is tracking to an 8% year-over-year increase. After rising 3% last week, earnings estimates for 2018 are now up 7% since January and reflect a 19% increase over 2017. (LPL)
KFC has been forced to close almost all 900 of its British stores because of a shortage of chicken. The problem arose after the chain switched its delivery contract to DHL.
La-Z-Boy reported quarterly profits of $12.1 million. The furniture company posted sales of $413.6 million in the period. La-Z-Boy shares have fallen 7.5% since the beginning of the year and are down about 1% over the last 12 months. (AP)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.