U.S. stocks traded mixed yesterday, as investors reacted to disappointing sales figures from Google-parent Alphabet, which weighed on technology shares.
Shares of Apple are higher after they reported earnings for the 1st quarter that fell in line with expectations, although revenue was down from the same period last year. However, Apple’s guidance for next quarter was higher than analysts expected, and it said it planned to spend $75 billion buying back its own shares.
The S&P Case-Shiller 20-city home price index rose a seasonally adjusted 0.2% in February compared to January and was 3.0% higher compared to a year ago. That was the slowest pace of annual growth since September 2012 and shows national home price growth coming back to earth.
Consumer confidence bounced back in April, suggesting the economy is likely to keep growing solidly through the summer. The consumer confidence index rose to 129.2 from 124.2, showing American consumers feel pretty good about how the economy is doing right now, and they see good times continuing over the next six months.
Rebuilding the country’s aging infrastructure is one of the few bipartisan issues they can seem to agree on in Washington. Yesterday President Donald Trump and leading Democratic lawmakers agreed a plan to overhaul U.S. infrastructure to the tune of $2 trillion.
With Northwest Quadrant Wealth Management, I'm Tyler Simones