With 92% of S&P 500 Index companies having reported, third-quarter earnings growth is tracking to an impressive 28.1% year-over-year increase, the highest since Q4 2010. Revenue results have also been very good, supported by strong economic growth. S&P 500 revenue has increased 8.5% year over year. (LPL)
The Energy Information Administration (EIA) reported that US crude supplies rose for the 8th straight week to 442.1 million barrels. October’s core US CPI reading came in at 2.1% Year-over-Year, aided by moderate housing price pressures from rentals. More significant price changes were concentrated in volatile categories such as energy and food. (GS)
The IRS announced tax code parameters for 2019, implementing a new method for making inflation adjustments, resulting in higher tax payments, and government revenue, over time. The move erodes some of the benefits for the Trump tax cut. (WSJ)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.