Business News

Are Things Slowing Down?

Macy's had a great holiday shopping season as same store sales climbed 1.4%. The company earned $1.3 billion, or $4.31 per share, in the fourth quarter on revenue of $8.67 billion. (AP)

The Commerce Department on Tuesday reported overall orders for durable goods, items ranging from toasters to aircraft meant to last three years or more, tumbled 3.7% in January. It was the biggest drop in six months.

The Commerce Department also reported the trade deficit rose 3.0% to $74.4 billion in January. Exports fell $3.1 billion to $133.9 billion and imports slipped $0.9 billion to $208.3 billion.

They also said wholesale inventories increased 0.7% percent in January. Retail inventories rose 0.8%.

The S&P CoreLogic Case-Shiller national home prices index increased 6.3% compared with December 2016.

Genworth Mortgage Insurance reports first-time buyer share of single-family home purchases was 38% in 2017, the highest since 2000. First-time homebuyers purchased 7% more homes than in 2016.

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

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