The S&P 500's 12.3% gain so far for the first quarter is its best quarterly gain in nearly a decade and its finest start to the year since 1998. (Wsj)
On the back of a booming consumer business, Huawei's revenue grew 19.5% in 2018 - surpassing $100B for the first time - despite its battle with the U.S. and its claims that the company's equipment could be used for Chinese spying. While Huawei has tried to counter the negative news through a public relations push as well as a legal offensive, some feel the developments will bode well for rivals Nokia and Ericsson. (Sa)
Lyft’s big day has finally arrived. Shares in the San-Francisco ride-hailing company begin trading on the Nasdaq today. The share sale values Lyft at $24bn and is the first big US technology darling to hit the public markets since Snap debuted in 2017. It paves the way for a rush of expected listings by fast-growing Silicon Valley companies, including rival Uber, which is hoping to reach a $100bn valuation.
The Federal Reserve’s preferred measure of inflation eased to its weakest level in 11 months in January, a reading that may validate policymakers’ decision this month to reverse course on policy and drop plans to raise interest rates this year. The core personal consumption expenditures index rose 1.8 per cent in January from a year earlier, according to the US Department of Commerce. That is down from the 2 per cent recorded in December and is the slowest pace of increase since February 2018. (Ft)
With Northwest Quadrant Wealth Management a Registered Investment Advisor I am Josh Fenili.