More signs of a healthy consumer. Personal incomes rose 0.5% in October, while personal spending climbed 0.6%. Incomes and consumer spending have accelerated at the fastest pace in years over the last few months, thanks to fiscal stimulus and modestly growing wages. (LPL)
On the inflation front, core personal consumption expenditures (PCE), which excludes energy and food components, rose 1.8% year over year last month, just below the Fed’s 2% target for the inflation gauge. While core PCE growth slowed in October, it has hovered around 2% for most of this year. (LPL)
As of mid-year, household debts were the lowest relative to household assets since the mid-1980s. Meanwhile, financial obligations – think debt service on consumers’ loans plus recurring payments like rent, car leases, homeowners’ insurance, and property taxes – are still hovering near the lowest share of after-tax income since the early 1980s. (FT Advisors)
Join us this weekend for Financial Focus Radio, the truth and wealth building, when we will talk about how the tariffs will impact the market. Check your stations listings.
The S&P 500 is down 6 and the NASDAQ is down 15.
Oil is down 82 cents at $50.63 a barrel.
Gold is down $4 at $1227 in a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.