A new week – earnings in focus
Money was outflowing from stock mutual funds and ETFs three weeks in a row (according to ICI data). Last time we saw that was right before the US election in 2016. Could this be a piece of sentiment that is flashing an extreme reading?
AAII says its survey shows stock market bears are at their highest level in over a year. Bears now make up 42.8% of those surveyed.
The University of Michigan’s consumer sentiment hit 97.8, after recording its highest level since March 2004. The index dipped mainly due to concerns about the potential impact of President Donald Trump’s trade policies on the U.S. economy.
Les Schwab Tire Centers CEO Dick Borgman will retire in June. He has worked at Les Schwab Tire 28 years and has run the company since 2007. THE new CEO will be Jack Cuniff. Les Schwab was founded in 1952. The privately held business has sales of roughly $1.8 billion and more than 480 locations and more than 7,000 employees.
S&P 500 is up 16 and the NASDAQ is up 40. The MSCI international index is higher.
Oil is down 90 cents at $66.50 a barrel.
Gold is down $2 at $1346 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.