Globally stocks traded higher yesterday as the US and China appear to be closer to reaching a trade deal.
Shares of General Electric traded sharply higher yesterday after they reached a deal to sell their biopharma business to Danaher for $21.4 Billion in cash. GE said the deal will help them pay down debt faster as they continue to try to strengthen their balance sheet.
Shares of Tesla dropped sharply after the SEC asked a federal judge to hold the companies CEO Elon Musk in contempt over a recent tweet. Musk sent another inaccurate and material information Tweet about the company after doing the same thing last fall.
The Chicago Fed's Index of national economic activity was lower in January for the first time in 8 months. Factory output dropped significantly in January pulling down a broad measure of the US economy. The Chicago Fed Index is a collection of 85 economic indicators.
Wholesale inventories rose 1.1% last month. The rise in inventories could prompt an increase in forecasts for 4th quarter GDP.
With Northwest Quadrant Wealth Management I'm Tyler Simones