Horizon Air and pilots union reach labor agreement
Horizon Air and its pilots’ union have reached a labor agreement that will raise wages. Alaska Air Group, Horizon’s parent company and APA Teamsters Local 1224 announced the agreement on Friday. The union represents 675 pilots. (Oregon Live)
Upside surprise to Chinese GDP. Chinese Q1 GDP was up 6.9%. Consumer spending is key to the Chinese government, as it is trying to manage its economy away from infrastructure and heavy industry and toward consumer spending and the service sector. (LPL Research)
Goldman Sachs reported first-quarter earnings that disappointed the street and are sending the stock lower. The bank had EPS of $5.15 a share on revenue of $8.0 billion. Profits from stock trading fell 6% from last year. (CNBC)
Bank of America first-quarter results put a smile on Wall Street faces. The bank posted EPS of 41 cents on revenue of $22.2 billion. The bank saw loans business grow by 6% in the quarter. (Reuters)
Johnson & Johnson quarterly sales rose to $17.8 billion up 1.7% in the first quarter. Pharmaceutical sales rose 0.8% to $8.25 billion. The company had profits of $4.42 billion in the quarter. (Reuters)
The S&P 500 is down 6 and the NASDAQ is down 11. The MSCI international index is down.
Oil is down 40 cents at $52.27 a barrel.
Gold is down $5 at $1287 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.