Stocks rose slightly on Monday, led by gains in tech, as investors looked ahead to a crucial Federal Reserve meeting this week.
While other economic signs may be weakening, Americans are still confident about their job prospects. A recent New York Federal Reserve consumer expectations survey showed that workers’ confidence for finding a new job after losing their current position was at 61.5% in May — an increase from 59.3% in April and the highest since the central bank started keeping track in June 2013.
The nation’s homebuilders reported solid confidence in the housing market in June, but levels dropped slightly due to concerns over trade issues, the high costs of construction and the lack of skilled labor. Builder confidence dipped to 64, that’s down from 66 in May. Sentiment has remained in the low 60s for the past five months. Anything above 50 is considered positive.
Wall Street analysts are eagerly anticipating Facebook’s possible unveil of its long-awaited cryptocurrency payments plan on Tuesday. According to various reports the company is preparing to finally reveal what it calls Project Libra with partners including Visa and Mastercard.
With Northwest Quadrant Wealth Management I’m Tyler Simones