Whole Foods Shutters Stores
Chinese foreign currency reserves fell last month to just under $3 trillion. While this is still a huge stockpile, China’s reserves were roughly $4 trillion at their peak. Declining reserves call into question the government’s ability to continue to support the yuan. (LPL Research)
European earnings growth for the fourth quarter is tracking in the mid-teens, ahead of the U.S. on rebounding energy sector profits and resilient economic growth in the face of political uncertainty. The macroeconomic outlook is still very much uncertain with elections coming up, particularly in France, and Greece back in the news. (LPL Research)
The US stock market is not yinging and yanging much.
The last time the S&P 500 closed down by at least 1% was 81 trading days ago on October 11th. That’s the longest stretch without 1% correction since 2006. The last time before that that there was such a long period of calm was 1995. (Bespoke Investment Group)
Whole Foods Market is shutting nine stores nationally. The company has not provided a list of stores slated for closure. Whole Foods recorded a 1.9% sales increase in the quarter. The company earned $95 million or 30 cents a share, down from $157 million or 46 cents last year. (AP)
S&P 500 is up 3 and the NASDAQ is up 4. MSCI International Index is lower.
Oil is up 47 cents at $52.81 a barrel.
Gold is up $1 at $1241 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.