Truth in Wealth Building

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More trouble on the stagecoach

More trouble on the stagecoach. Wells Fargo employees improperly altered customer documents trying to comply with a regulatory consent order over anti-money laundering controls. (Wall Street Journal) A slow walk to the gallows? J.C. Penney reported first quarter results. Revenue fell about 4.3% to $2.58 billion. Same-store sales rose 0.2% but were short of analysts’…

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Claims remain near 40-year lows

New applications for unemployment benefits were reported at 222,000 this week. Claims remain near 40-year lows. (LPL) Japan’s streak of positive GDP growth quarters comes to an end. After eight straight quarters of growth, the longest streak in nearly 30 years, Japan’s gross domestic product contracted in the first quarter. (LPL) According to the Centers…

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U.S. factory output rose

The Commerce Department says housing starts dropped 3.7% in April. Building permits fell 1.8%. The Federal Reserve said U.S. factory output rose in April by 0.7%. Manufacturing output rose 0.5%. A 2.3% increase in machinery production bolstered the overall gain in factory output. In the last year industrial output is up 3.5%. Industrial capacity in…

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Highest level in seven years

The yield on the 10-year Treasury note hit its highest level since 2011 and the two-year yield hit its highest mark since 2008 on Tuesday. The 10-year hit 3.07% and the two-year yield hit a high of 2.59%. (AP) The Commerce Department says retail sales rose 0.3% last month after jumping 0.8% in March. Retail…

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Oil prices are likely to stabilize

An outstanding first quarter earnings season is winding down. With 455 S&P 500 Index companies having reported first quarter 2018 results, earnings are tracking to a 26% year-over-year increase. The new tax law is giving earnings a big lift. Revenue has also been strong, tracking to an 8.2% year-over-year increase. (LPL) Oil prices are likely…

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Monday, Monday

NFIB’s Small Business Economic Trends Survey saw the 17th consecutive month of historically high readings in April. Never in the history of this survey have we seen profit trends so high. The optimism small businesses owners have about the economy is turning into new job creation, increased wages and benefits, and investment. Congressional Quarterly reported…

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