Import prices increased
Import prices increased in April by 0.5%. Over the last 12 months import prices rose 4.1%. Prices for imported petroleum climbed 1.6%. Export prices increased 0.2% in April. Export prices rose 3.0% year-on-year. Prices for agricultural exports advanced 0.3% as a 37.9% jump in vegetable prices offset falling prices for soybeans, corn and wheat. (Labor Department)
Chinese producer prices rose 6.4% year over year. Consumer prices remained contained, rising 1.2% year over year. Inflation in China is moderating as less producer inflation is translating into consumer price increases. (LPL Research)
Kohl’s had a first quarter profit of 39 cents per share beating expectations. This came on sales of $3.84 billion.
Kohl’s shares have declined 18% since the beginning of the year. (AP)
Whole Foods reported quarterly earnings of $99 million. That produced a profit of 31 cents per share. The results met Wall Street expectations. The grocer had sales of $3.74 billion in the period. Whole Foods shares are up 18% in 2017. (AP)
The S&P 500 is down 7 and the NASDAQ is down 21. The MSCI international index is down.
Oil is up 60 cents at $47.93 a barrel.
Gold is up $5 at $1223 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.