US Stocks traded higher last week with the S&P 500 on a 10 week winning streak, the longest since 1995. The S&P 500 is now up 21% since the December 24th low.
Electric car maker Tesla announced the long-awaited $35,000 Model 3 sedan and said they were shifting all of their sales to online-only, leading to more retail layoffs. The company also announced a 4th quarter loss. Shares of Tesla traded 8% lower on the news.
The University of Michigan consumer sentiment index faded in February to a 93.8 level which was lower than the 95.6 that economists had expected. Long-term inflation expectations remain near the lowest level recorded in the last half century.
The institute for supply management said that American manufacturers grew their businesses in February at the slowest pace since the election in November of 2016. Offering more proof the US economy has gotten off to a slow start this year.
And this Friday March 9th marks the 10th anniversary of longest bull market on record. Investors have been richly rewarded since the March 2009 low, with the S&P 500 gaining 312% over those 10 years.
With Northwest Quadrant Wealth Management I'm Tyler Simones