Welcome to the third quarter. Historically the third quarter can be tricky for stocks, but especially so during a midterm year. In fact, going back to 1896 and the start of the Dow, this is the second worst quarter of the four-year presidential cycle. (LPL)
The shortened holiday week will likely see below-average trading volume with traders heading to beaches and barbecues. But that does not mean the economic calendar is quiet. In fact, quite the opposite with the ISM manufacturing data and the jobs report on Friday. (LPL)
The 2018 2Q Zillow Home Price Expectations Survey, found that surveyed economists and real estate experts expect the U.S. will enter a recession in 2020. (FBN)
Too early to think of Christmas? Not for Kohl’s, which is getting a jump on finding seasonal workers for the back-to-school and holiday seasons. Faced with a tight labor market, the retail giant says it’s the earliest it has ever started searching for seasonal employees. Although Kohl’s hasn’t disclosed how many workers it plans to hire, about 70,000 additional workers were employed for the 2015 and 2016 seasons. (LinkedIn)
S&P 500 is up 11 and the NASDAQ is up 41. The MSCI international index is lower.
Oil is up 90 cents at $74.84 a barrel.
Gold is up $8 at $1249 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.