Truth in Wealth Building

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Consumer Confidence Slides

It’s tax day. Don’t forget!!! March U.S. industrial production fell 0.6%, more than expected. Industrial production fell at an annual rate of 2.2% in the first quarter. The industrial sector has been undermined by a slowing global economy, a stronger dollar, and lower oil prices which have eroded demand for U.S. manufactured goods. (Reuters) The…

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Inflation still tame

If you want a job you can find one. The number of Americans filing for unemployment benefits fell last week, to levels last seen in 1973.  The four-week moving average of claims, fell to 265,000 last week. The number of people receiving benefits after an initial week of being unemployed declined to 2.17 million, the…

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More big banks report

U.S. retail sales fell in 0.3% March as households cut back on purchases of automobiles. Retail sales excluding automobiles, gasoline, building materials and food services ticked up 0.1%. (Department of Commerce) U.S. producer prices fell 0.1% in March as rising energy prices were offset by a decline in the cost of services. This number suggests…

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Big banks start reporting

JPMorgan Chase, the nation’s largest bank by assets, posted first quarter profits that fell 6.7% to $5.5 billion. Revenue dropped 3% to $24.1 billion. Sluggish action in its investment banking and asset management businesses attributed to the revenue decline. The bank raised their loan loss reserves for the first time in years in response to…

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Hour 2 of Financial Focus Radio Show

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Small business owners worry

It was the unofficial kickoff of earnings season and Alcoa beat on profit expectations but missed estimates on sales. The metals giant says they will eliminate up to 2,000 jobs. (CNBC) While rates may be low, mortgage credit availability actually tightened in March. The tightening came largely in conventional loans, while government programs such as…

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