The S&P 500 rose slightly to a fresh an all-time high yesterday and posted its longest winning streak since November.
The House passed a $1.4 trillion spending package yesterday, sending it to the Senate as Congress rushes to prevent a government shutdown. The chamber easily approved two measures to fund the government through Sept. 30. The Senate needs to pass the legislation — and President Donald Trump has to sign it — by Friday to keep federal departments running.
FedEx reported fiscal second quarter results that missed consensus expectations and lowered its profit outlook again amid escalating competition from e-commerce giant Amazon. Shares of FedEx traded sharply lower on the news.
Builders began construction on new homes in the U.S. at a pace of 1.37 million in November. This represented a 3.2% increase from a revised 1.32 million in October and was 13.6% higher than a year ago. Meanwhile, permitting activity hit yet another post-recession high. Building permits for privately-owned housing units were authorized at a seasonally adjusted rate of 1.48 million. That was 1.4% above the pace of 1.46 million set in October and 11.1% above last year’s rate.
With Northwest Quadrant Wealth Management, I'm Tyler Simones.