The Labor Department said U.S. producer prices unexpectedly fell 0.1 percent in August. Its first drop in 1-1/2 years, as declines in the prices of food and trade services offset an increase in the cost of energy. YOY PPI rose 2.8 percent.
Wells Fargo’s plan to reimburse customers who had improperly been sold auto insurance was rejected by regulators. The bank must do more to make sure it has located and compensated every affected driver. (Reuters)
According to Goldman Sachs and Conde Nast’s 2018 Top Brands & Retailers Millennials Love report, Amazon is the leading destination for millennial men, with men ranking the site as their “favorite place to shop” in nearly every category. Men “tend to stick with what they know and like, rather than seek out new products, therefore they turn to Amazon as their one-stop shop.”
Sometimes good marketing ideas go wrong. As part of a Domino’s Forever Campaign in Russia, the company offered 100 free pizzas each year for 100 years to customers that got tattoos of the brand’s logo on visible parts of their body. Due to the surging number of people getting the tattoo Domino’s curtailed the number of accepted winners to 350. (CNBC)
S&P 500 is up 7 and the NASDAQ is up 28. The MSCI international index is higher.
Oil is down 90 cents at $69.47 a barrel.
Gold is down $0 at $1211 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.