Another sign of a strong economy. The Conference Board’s Leading Economic Index (LEI) is one of our favorite economic indicators. Last month it came in slightly above September and up 5.9% year-over-year (YoY). The seven recessions since the early ’70s all saw the LEI go negative YoY an average of eight months before the eventual recession. (LPL)
Plant-based protein company Beyond Meat has filed for a $100 million initial public offering, as vegan and meat alternative food products gain in popularity. (CNN)
The University of Michigan’s monthly survey of consumers slipped to 97.5 in November, it was 98.6 in October’s.
The “U-6” unemployment rate, sometimes referred to as the “true unemployment rate,” which includes discouraged workers and those working part-time who say they want full-time jobs, is 7.4% right now. That rate was lower from late 1999 to early 2001 at the peak of the original internet boom, bottoming at 6.8%. So, by that standard the economy could be doing better. But the gap between 7.4% and 6.8% is relatively small in a data sense, and a huge decline from the peak in 2010 of 17.1%. (FT Advisors)
The S&P 500 is up 14 and the NASDAQ is up 47.
Oil is down 15 cents at $51.41 a barrel.
Gold is up $0 at $1214 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.