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Business News

US Economy Shrinks


Markets broke a four day winning streak yesterday closing just below the flat line. Today we look to start a new streak – the direction we will have to wait and see.

The second reading of first quarter GDP shows the economy shrank 1%.  That is the first decline in three years. The hard winter is being blamed for the slowdown. (CNBC)

Costco reported quarterly profits of $473 million, up 3.1% with both higher sales of 5% in the US and 3% abroad. (CNNMoney)

Starbucks is getting into the burger business.  The company plans to open the La Boulange chain to cater to the dinner crowd. In addition to coffee the chain will also offer wine, beer and milkshakes.  (Associated Press)

McDonald’s plans to return $20 billion to shareholders by 2016 in the form of share buy backs and dividend increases. That is a 20% increase to what they did from 2011 through 2013.  (Bloomberg

Even as the world gets smaller almost 70% those born in the US still live in the State of their birth and only 1.5% move each year across State boarders.  That is a lower rate than our parents just a generation ago. In 1980 3% of the population moved States each year. The biggest reason for moving is a job and a warmer climate. (Bloomberg)


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