The big jobs report is out, and the Labor Department says the economy added 313,000 jobs in February. The private sector accounted for 287,000 of those new jobs. The unemployment rate is 4.1%.
The European Central Bank CB made no changes to interest rates. However, the central bank removed a line from previous statements: “…the Governing Council stands ready to increase the asset purchase program in terms of size and/or duration.” The punch bowl is being pulled from the party. (LPL)
Since talk of tariffs and a trade war started, the Russell 2000 is up 3.6%, while the S&P 500 is up 0.5%. The last time small caps did this well relative to large caps was back in November 2016. Year to date, the Russell 2000 is actually up more than the S&P 500. (LPL).
Nordstrom has it bought BevyUp and MessageYes, two digital retailers. Terms of the deal were not disclosed. BevyUp is a platform that allows sales associates and shoppers to communicate with each other and MessageYes allows the company to text customers, leveraging artificial intelligence and integrated payments. (CNBC)
The S&P 500 is up 12 and the NASDAQ is up 31. The MSCI international index is higher.
Oil is up 58 cents at $60.64 a barrel.
Gold is down $3 at $1319 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.