Another Wild Ride
With about half of the S&P 500 having reported results, fourth quarter earnings are tracking to a 13.6% year-over-year increase. A solid 78% of companies have beaten earnings estimates for the quarter. Perhaps most impressive is the revenue upside, with 80% of companies beating consensus forecasts, well above recent and long-term averages in the 50s. (LPL)
Wilsonville-based Flir Systems makers of night vision equipment for the defense industry has sold its Canadian subsidiary Lorex for $29 million in cash. Lorex makes security cameras for retail and small businesses. (Oregon Live)
According the Department of Energy the United States will export more energy products than it imports by 2022. It would mark the first year the U.S. energy exports surpassed imports since 1953.
McDonald’s will spend its tax savings from President Trump’s sweeping tax bill into remodeling stores in the U.S. and opening an additional 1,000 stores worldwide this year. In the fourth quarter, sales at restaurants jumped 5.5% worldwide and 4.5% in the U.S. (CNBC)
The S&P 500 is down 6 and the NASDAQ is down 2. The MSCI international index is higher.
Oil is down 55 cents at $61.24 a barrel.
Gold is down $2 at $1313 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.