Gun stocks rose yesterday
Toys ‘R’ Us, has filed for Chapter 11 bankruptcy protection. They have 1,600 stores and 64,000 employees. Stores and online sites remain open. The company has debt from a $6.6 billion buyout in 2005 by private equity firms. It’s the second-largest retail bankruptcy, trailing the filing in 2002 by Kmart. (Reuters)
The Commerce Department says housing starts slipped 0.8% in August. Single-family home permits fell 1.5%, while permits for the construction of multi-family homes soared 19.6%.
The Labor Department says import prices rose 0.6% in August. In the last 12 months import prices have surged 2.1%. The report also showed export prices rose 0.6% in August. They have increased 2.3% year-on-year.
FedEx will raise shipping rates in January. FedEx Express, Ground and Home Delivery will go up about 5%. The One Rate shipping, which offers a simple flat price, will increase 3.5% (CNBC)
Gun stocks rose yesterday as President Trump prepares to ease rules for overseas sales of US guns. Strum Ruger stock was up 13% and American Outdoors was up 10%. (Yahoo Finance)
The S&P 500 is up 1 and the NASDAQ is flat. The MSCI international index is higher.
Oil is up 57 cents at $50.05 a barrel.
Gold is up $7 at $1318 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.