Wall Street last week sawthe worst week for the Dow, S&P 500, and Nasdaq since late March. The Dow and S&P plunged about 4.5 percent each. The Nasdaq fell nearly 5 percent. The Dow and S&P 500 are negative for the year. However, the Nasdaq was still up nearly 1 percent for 2018. (CNBC)
Ten years ago this week Bernard Madoff's $65 billion Ponzi scheme came to light. (CNBC)
Uber has filed paperwork for an initial public offering. Rival Lyft filed for its IPO last week. (Reuters)
Bloomberg News reports, “sub-$2 gasoline can now be found in at least one gas station in 20 US states, as the effects of the bear market in crude oil trickle down to motorists.” Meanwhile, “the national average has fallen for seven straight weeks to $2.53 a gallon, the lowest since March.
The National Association of Realtors points out that one reason for the flattening housing prices in the West that our region saw the biggest, fastest price increases and consumers are just being priced out of the market. That, along with the impact of increased interest rates.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.