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US Stocks traded mixed yesterday as investors look for a catalyst to move stocks.
U.S. homebuilding rebounded in October and permits for future home construction jumped to a more than 12-year high, pointing to strength in the housing market amid lower mortgage rates.  The report also showed an increase in home completions, which could help to ease a supply squeeze that has plagued the housing market.
Shares of the home improvement retailer Home Depot fell more than 5% after the company once again cut its 2020 forecast and reported same-store sales growth of 3.6%, well below the expected growth of 4.7%. Revenue for the third quarter also missed estimates.  Shares of other retailers Kohl’s and Macy’s also fell more than 10% after both companies reported weaker than expected earnings and earnings forecasts.
The House passed a temporary government funding bill to hold off a shutdown for a few more weeks.  The bill would fund the government at current levels through Dec. 20th. It heads to the Senate then to the President.  Senate Majority Leader Mitch McConnell said that the White House indicated President Donald Trump would support a plan to keep the government running through Dec. 20. The president’s backing suggests the GOP-held Senate will pass the measure.  Funding will lapse Friday if Congress cannot pass a funding plan.
With Northwest Quadrant Wealth Management, I'm Tyler Simones.

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