The NFIB Small Business Optimism Index for August reached 108.8, a new record in the survey’s history. Small business plans to create new jobs and job openings hit a 45-year high. The survey showed new records of small business owners who believe now is a good time to expand.
On Friday, the 10-year Treasury yield jumped the most on a jobs report day since January 2017 after August data showed average hourly earnings grew at their fastest pace of the economic cycle. Accelerating wage growth has re-ignited inflation expectations. (LPL)
ValueInsureds Modern Homebuyer Survey says 63 percent of respondents predicted home prices will see a correction within two years, the highest share since Spring 2016. Asked what will lower home prices, fifty-four percent said rising mortgage rates, 33 percent said the reduction in homeownership incentives under the 2017 tax reform, 16 percent said a stock market correction, and 11 percent said trade wars.
Schmidt’s Deodorant, owned by consumer products giant Unilever, will close its Northeast Portland factory and lay off all 57 employees. Workers will lose their jobs effective October 31st. (Oregonian)
S&P 500 is down 0 and the NASDAQ is up 4. The MSCI international index is lower.
Oil is up 68 cents at $70.00 a barrel.
Gold is down $4 at $1199 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.