Small Business Optimism fell
The NFIB reported that its Index of Small Business Optimism fell from 105.3 in August to 103 in September. The decline was prompted by a sharp dip in expected sales. The percentage of small business owners expecting improved sales over the next three months fell from 27% in August to 15% in September, while the number of owners who believe the present is favorable for expansion fell by 10 points.
MediaPost reports their data shows that digital ads have finally “overtaken TV” as the largest ad medium, although “offline” non-digital ads still have the largest spend. Digital ads should command $84 billion this year, up 16% from 2016. Trend line data suggests digital ad sales will hit nearly $101 billion by 2019, passing offline sales expected to be around $93.5 billion that year.
Wal-Mart forecasts U.S. online sales will increase by 40% and overall sales by 3% in 2018. It will buy back $20 billion of its shares over the next two years. (Reuters)
Delta Air Lines, the number two U.S. airline, reported earnings per share of $1.57, about 8% lower than a year earlier. The had quarterly revenue of $11.06 billion. Delta’s passenger revenue per available seat mile rose 1.9%. (Reuters)
The S&P 500 is down 3 and the NASDAQ is down 8. The MSCI international index is lower.
Oil is down 5 cents at $50.88 a barrel.
Gold is down $1 at $1293 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.