Truth in Wealth Building

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The U.S. economy grew

The U.S. economy grew at 2.3% in the first quarter, better than the consensus estimate of 2.0% but a slowdown from the near 3% growth of the prior three quarters. Persistent problems with seasonal adjustment of first quarter data and a lull in consumer activity weighed on first quarter growth. We expect U.S. growth to…

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Up for April

The Commerce Department says orders for long-lasting manufactured goods rose 2.6% overall in March, but spending that tracks business investment spending fell for the third month out of the past four. First quarter earnings results have been excellent so far, with about 30% of S&P 500 companies having reported. Earnings are tracking to a 22%…

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The Leading Economic Index jumped

The Leading Economic Index (LEI) jumped 0.3% in March, after being up 0.7% in February and 0.8% in January. This index shows a picture of future economic health. This shows little reason to expect a recession over the next 12 months. Year over year, this index is up +6.2%, well above the negative year-over-year signal…

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The yield curve continues to flatten

The Federal Reserve released its latest Beige Book. It showed continued to report steady growth overall. Trade concerns were starting to pop up, including rising steel costs. Labor market tightness continued to be an issue, especially for highly skilled workers, but wage and price pressures remained limited. (LPL) China continued buying Treasuries in February. Some…

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Earnings roll in

Hillsboro based Phoseon Technology, maker of semiconductor light for industrial applications, will expand its factory by more than 50%. Their work force has grown from 125 to 175 over the past two years. (OregonLive) Market breadth appears to be in favor of the bulls. There are signs that the 2018 bottom for U.S. equities has…

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Extra innings for tax filing

Gross domestic product (GDP) in China rose +6.8% in the first quarter. (AP) China’s central bank announced a surprise cut in bank reserve requirements, reducing the amount of cash most commercial and foreign banks must hold in order to pay back loans obtained via the central bank’s medium-term lending facility. The move is intended to…

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