China’s demand for oil byproduct gasoline, dropped to the lowest level in 13 months, according to a Reuters.
Retail sales will rise 4.83 percent this year, compared to a 4.2 percent in 2017. Strong consumer confidence and big demand for consumer appliances, sales of which are poised to soar 15.2 percent, are the drivers. Jewelry will be up an expected 5.2 percent, and men’s apparel, up 12.7 percent. (FBN)
Online sales Black Friday jumped 23.6 percent from a year ago, according to a new report from Adobe Analytics.
The Friday after Thanksgiving this year was also the first day in history to see more than $2 billion in sales stemming from smartphones. Cyber Monday sales online are expected to set a new record of $7.8 billion, up nearly 18 percent from last year. (CNBC)
Reuters reported that the US Department of Agriculture has “paid out nearly $840 million to farmers as part of a $12 billion aid program to offset losses from the imposition of tariffs on American exports.” The top five commodities being soybeans, wheat, corn, dairy and hogs. The five states that received the highest amount of aid were Illinois, Iowa, Kansas, Indiana and Minnesota.
The S&P 500 is down 15 and the NASDAQ is down 52.
Oil is down 13 cents at $51.50 a barrel.
Gold is up $2 at $1224 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.