Stocks are sharply lower with much of the unrest coming out of Europe amid uncertainty over Italy’s political direction. The euro is at 6-1/2 month lows. (CNBC)
Durable-goods orders fell 1.7% April, mostly from a decline in contracts for planes. Orders minus transportation rose 0.9%. (AP)
Oil below $70/barrel on supply concerns. U.S. benchmark crude prices was down nearly 3% last Friday as traders digested reports that OPEC, Russia, and others are in discussions to potentially increase production by up to 1 million barrels/day. The news comes on the heels of an announcement from the International Energy Agency last week that the supply glut is gone and the run-up in oil prices is starting to impact consumer demand. (LPL)
According to Reuters, Qualcomm will meet with Chinese regulators in Beijing this week, as it seeks to get final clearance for its $44 billion deal to acquire NXP Semiconductors. (CNBC)
Coca-Cola is selling its first alcoholic product called Lemon-Do to consumers of Japan. The lemon-flavored drink will be available with 3%, 5% and 7% alcohol. (Fortune)
S&P 500 is down 26 and the NASDAQ is down 48. The MSCI international index is lower.
Oil is down $1.00 at $66.95 a barrel.
Gold is down $2 at $1301 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.