Just 11 days till Christmas and here is some disturbing news. Between 75 and 80 percent of Americans who have a Christmas tree now have an artificial one, and the $1 billion market for fake trees is growing at about 4 percent a year. Americans buy about 10 million artificial trees each year. (Oregonian)
Trade tensions cooling. China has resumed soybean purchases for the first time since tariffs were put in place, and more corn shipments could be next according to a Bloomberg. China also indicated it would provide greater market access to foreign companies. (LPL)
Initial jobless claims fall. Weekly initial unemployment claims came in at 206K, below the 226K expected and last week's revised 233K. The four-week moving avg., a better gauge of labor market trends, also declined. Overall, the data suggest the labor market, and by extension the U.S. economy, remain in good shape. (LPL)
Tailored Brands, the parent of apparel chains Jos. A. Bank and Men's Wearhouse reported a quarterly profit of $1.01 per share, seven cents above estimates. However they saw sales miss estimates, and it lowered its full year guidance. (CNBC)
S&P 500 is down 28 and the NASDAQ is down 91.
Oil is down 32 cents at $52.26 a barrel.
Gold is down $6 at $1242f a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.