Inflation at the manufacturing level was down 0.1% in November. Producer price inflation is running at 0.7% for the last 12 months. (Department of Commerce)
Home Depot, the nation’s largest home improvement retailer, expects they will meet their goal of a12% profit margin by the start of 2015, a year earlier than expected. (Bloomberg)
Medford based Lithia Motors, the nation’s ninth largest auto retailer as acquired its 94th dealership buying Diablo Subaru of Walnut Creek California. The company has made six acquisitions this year and sells 28 brands in 11 states. Their sales will be about $4.3 billion in 2013. (Portland Business Journal)
Join us Saturday at 10 for Financial Focus Radio when we talk to former Lehman Brothers trader Larry McDonald.
Domestic oil production is at its highest level since October 1988. Domestic production is up 18% over the last twelve months. Imported oil will dip to 28% of domestic demand the lowest since 1985 and down from a peak of 60% in 2005. (Bloomberg)
Small business felt a little better about the future in November according to the National Federation of Independent Businesses Optimism Index. Hiring was up for the month but small business is still employing fewer workers than during the peak experienced in 2007.
The price of raw sugar is in a 15 month slump as a supply glut grips the globe. The oversupply may not end soon as the world’s three top producers, Brazil, India and Thailand, look to increase production 10% in 2014. The price of raw sugar has fallen for the last 10 trading sessions on the news. (Bloomberg)
Online shopping is up about 17.5% this holiday season compared to last year. Mobile devices, pads and phones, made up 29% of all online shopping. United Parcel Service picked up about 32 million packages on Cyber Monday, about a million more than last year. (Associated Press)
That glass of orange juice you are drinking for breakfast may be getting more expensive. The cold weather we have endured lately made its way to the orange growing regions of California. It is harvest season and the cold may have damaged the remaining 80% of mandarin oranges and 75% of navel oranges that remain to be harvested. (Reuters)
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