Equity markets are wobbly once again amid a tech shakeout, but investors today will also be focusing on the U.S. economy and GDP data. The numbers just out this morning show Gross domestic product expanded at a 2.9 percent annual rate in the final three months of 2017, in the Commerce Department's final revision of the numbers. That was a slight moderation from the third quarter's brisk 3.2 percent pace. (CNBC)
Even after yesterday's $125bn auction, Uncle Sam still has plans to sell another $175bn of debt this week, cumulatively the highest weekly figure since the record set during the 2008 financial crisis. It comes amid concerns about declining federal revenue due to tax cuts, and increased spending in Washington. Those worries have contributed to rising Treasury rates this year. (FT)
Self-driving concerns are spreading across the industry following UBER's pedestrian fatality last week. Nvidia shares lost as much as 10% on Tuesday after the chipmaker announced it would suspend self-driving tests across the globe. Uber has also let its autonomous vehicle permit lapse in California, intending not to operate on "public roads in the immediate future." (SA)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.