Stocks ended yesterday’s trading session little changed as investors digested employment data while they monitored the latest news from the U.S.-China trade negotiations.
The Labor Department reported the US Economy added 260,000 new jobs last month a number that was much better than expected. This signals that the labor market here in the US remains quite strong even though the economy has slowed a bit. The unemployment rate also dropped to 3.5% which is a 50 year low. The only negative in the jobs report was that average wages dropped slightly.
Saudi Arabia has just pulled off the biggest initial public offering in history, raising $25.6 billion by selling shares in its giant state-owned oil monopoly. Saudi Aramco sold 3 billion shares at 32 riyals in its IPO. The IPO values Aramco at roughly $1.7 trillion, making it the most valuable publicly traded company in the world ahead of Apple, which is worth about $1.15 trillion.
With Northwest Quadrant Wealth Management, I'm Tyler Simones.