US Stocks traded very close to the flat line yesterday on light trading volume. Gains were kept in check as investors digested some weaker than expected earnings reports.
The maker of Blue Buffalo Dog Food, Cheerios, and other well know packaged food brands, General Mills is trading higher after the company reported fiscal 2nd quarter profits that beat expectations. This is the 7th straight earnings beat for General Mills on strong organic growth. The stock is trading higher on the news and is up 36% YTD.
Shares of the embattled utility company PG&E rose 6% after the company said it reached a $13.5 billion settlement with California wildfire victims, and an $11 billion agreement with insurance companies. Last Friday California Governor Gavin Newsom rejected the company’s bankruptcy reorganization plan.
In November, Oregon’s unemployment rate dropped below 4 percent for the first time since comparable records dating back to 1976. This puts the rate slightly above the November U.S. rate of 3.5 percent. Oregon’s unemployment rate has been hovering near historical lows of near 4 percent for the past 37 months.
With Northwest Quadrant Wealth Management, I'm Tyler Simones.