U.S. import prices climbed higher for a second straight month in October. Import prices increased 0.5%. In the last 12 months import prices fell 0.2%, the smallest decrease since July 2014. Imported petroleum prices surged 7.5%, imported capital goods dropped 0.2%, and the cost of imported automobiles increased 0.3%. Export prices rose 0.2% for October and are down 1.1% from a year ago. That was the smallest decline since October 2014. (Labor Department)
Retail sales rose 0.8% in October. Sales are up 4.3% from a year ago. Auto sales rose 1.1%, service station sales advanced 2.2%, sales of building materials increased 1.1% and online retailers surged 1.5%. (Commerce Department)
Target had a profit of $608 million in the third quarter, up almost 11% from last year. Sales for the company declined almost 7% to $16.44 billion. Same store sales edged down 0.2%. (AP)
That big spike in bond interest rates since the election of Donald Trump have dampened the mortgage market. Total home loan application volume is off 9.2% and refis are down 11% per the Mortgage Bankers Association.
S&P 500 is down 7 and the NASDAQ is down 17. MSCI International Index is down.
Oil is down 43 cents at $45.41 a barrel.
Gold is flat at $1224 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.