US Stocks broke their 10 week winning streak last week after investors got a slew of economic data showing the global economy continues to slow.
Construction on new homes, known as housing starts, leaped 19% in January, rebounding from a big drop at the end of 2018. Single-family starts increased at an even faster 25% pace in January as the housing market try's to keep up with demand.
Small business owners in the US added the most jobs per business in 45 years. But plans for future hiring fell to a 10-month low, suggesting tight labor markets and wage costs are weighing on efforts to add employees. 22% of small business owners said difficulty finding qualified workers was their most important business problem.
The oldest stock index in America, the Dow Transportation Average, saw its 11th straight drop on Friday which hasn't happened since 1972. The transport index is closely followed because it is often used as a proxy for the health of the US economy.
And more proof that the housing market in San Francisco is crazy, 81% of the houses in the city are worth $1mm or more. And with 9 tech companies in the Bay Area slated to go public this year minting 5,000 more millionaires, prices aren't likely to go down anytime soon.
With Northwest Quadrant Wealth Management, I'm Tyler Simones