103,000 new jobs
The Department of Labor says the economy added 103,000 new jobs in March. The private sector added
102,000 jobs. The unemployment rate stands at 4.1%.
Portland based Schnitzer Steel reported quarterly earnings of $1.42 per share. That included tax benefits of $0.52 per share associated with the Trump tax reform legislation. (BUSINESS WIRE)
Though disruption to corporate supply chains and higher prices for U.S. consumers are still risks surrounding escalating trade tensions, it is important to keep in mind that the total dollar value of tariff actions to date is only about $32 billion, compared with potentially $800 billion in fresh stimulus being put into the U.S. economy in 2018 alone from tax cuts, the recently-passed federal spending bill, and repatriation of overseas cash. Estimates suggest a potential negative impact of 0.3% on U.S. gross domestic product (GDP) at most, and an even smaller potential hit to China’s GDP. (LPL)
Join us this weekend when Troy and Tyler will be back in the saddle to round-up the markets and give you the truth in wealth building.
S&P 500 is down 25 and the NASDAQ is down 80. The MSCI international index is lower.
Oil is down 60 cents at $62.94 a barrel.
Gold is down $2 at $1326 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.