Business News

The ADP March jobs report says the private sector added
241,000 jobs. Job gains were broad-based, spread across both business size and sector. Service providers added 176,000 while goods-producing industries contributed 65,000. Construction and manufacturing led the latter category, adding 31,000 and 29,000 respectively. Medium-sized firms, with 50 to 499 employees, were the top jobs producers with 127,000 new hires, while large firms added 67,000 and small businesses rose by 47,000.

The Commerce Department says factory orders increased 1.2% in March. Orders for mining, oil field and gas field machinery climbed 1.8% and computers up orders were up 3.5%.

The Institute of Supply Management's service sector fell to 58.8 in March. The index shows the service sector has expanded for 98 consecutive months, while the overall economy has grown for the 103rd consecutive month.

J.M. Smucker will buy pet food maker Ainsworth Pet Nutrition for $1.9 billion in cash. The food maker is was exploring sale of its baking business, which includes the Pillsbury and Martha White brands. (CNBC)

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

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