Markit Manufacturing PMI reports from a dozen countries, showed overall activity remains steady and in expansionary territory across most of Europe, while Asia weakened last month. In a sign that it’s likely faring worse in the trade spat, Chinese data fell into contractionary territory in December for the first time in 19 months. The slowdown comes as gov’t officials are already tapping the brakes on the economy through deleveraging. With the U.S. remaining firmly in expansionary territory, it bodes well for face-to-face trade negotiations slated to start next week. (LPL)
Shoppers delivered the strongest holiday sales increase for U.S. retailers in six years. Total U.S. retail sales, excluding automobiles, rose 5.1% between Nov. 1 and Dec. 24 from a year earlier, according to Mastercard SpendingPulse, which tracks both online and in-store spending with all forms of payment. Overall, U.S. consumers spent over $850 billion this holiday season.
Traeger grills has purchased the Redmond, Oregon Pacific Pellet mill for undisclosed terms. Pacific pellet manufacturing almost 21,000 tons of pellets in 2017 according to the Department of environmental quality. (Bulletin)
S&P 500 is down 31 and the NASDAQ is down 134.
Oil is up 21 cents at $46.75 a barrel.
Gold is up $6 at $1290 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.