Stocks ended yesterday’s trading session mixed as investors face a big week for corporate quarterly results and economic data following an extended holiday weekend. Investors were also monitoring a jump in crude-oil prices as the U.S. said it would end waivers for countries that import Iranian crude oil.
The Trump administration moved to broaden Iran’s economic isolation on Monday by announcing it would fully enforce sanctions that were imposed last fall and stop allowing five large nations to buy Iranian oil with the ultimate goal of imposing full economic isolation on Iran. The price of oil jumped 3% on the news.
The number of existing-homes sold dropped nearly 5% in March as the on-again-off-again housing market retreats. The median price of a home sold in March was $259,400, a 3.8% increase versus a year ago. At the current pace of sales, it would take 3.9 months to exhaust available supply, still well below the long-time average of 6 months.
Shares of Kimberly-Clark rose 5.4% after the company reported strong first-quarter earnings. The parent company of Kleenex, Huggies and Kotex reported $1.66 per share versus the expected $1.54 per share.
With Northwest Quadrant Wealth Management, I'm Tyler Simones