Business News

Cannabis has Affected Beer Sales

Sell in May and go away? Since 1950, S&P 500 performance May through October, the worst 6 months, is up 1.5% on average and higher 63.2% of time. (LPL)

Deschutes Brewery CEO Michael LaLonde recently told the Bend Bulletin, “I believe cannabis has affected (beer) sales ….. (as cannabis users) don’t consume as much alcohol.” Deschutes saw its first sales decline ever in 2017.

Texas oil production jumped to 4.01 million barrels a day in February, up almost 21% from a year earlier, according to the Energy Information Administration, the highest since 1981. That helped push total U.S. crude output in February up 2.6% to a new record of 10.3 million bpd.

The ISM says its index of national factory activity dropped to a reading of 57.3 last month from 59.3 in March. A reading above 50 indicates growth in manufacturing, which accounts for about 12% of the U.S. economy. (CNBC)

You know I love my treats, so good news for us Oreo fans. The parent company Mondelez will begin rolling out three limited-edition flavors, cherry cola, kettle corn and pina colada. (USA Today)

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

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