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George Noorey

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Investors have held their nerve so far Friday as a sharp escalation in tariffs took effect as negotiations in Washington failed to produce a breakthrough.  Beijing’s commerce ministry said it “deeply regretted” increased US tariffs on $200bn worth of Chinese imports, but expressed optimism that a negotiated settlement could still be reached.  Meanwhile, on Twitter, the President said there’s “no rush” to reach a deal and that the imposition of tariffs will make the US “much stronger”.  (CNBC)

 

Uber has priced its shares at $45 a piece, near the bottom of its indicated $44 to $50 range, after paring expectations following the fraught debut of its rival Lyft and a broader US market sell-off.  The ride-hailing company sold 180m shares to raise $8.1bn in new capital and deliver a total valuation of $82.2bn on a fully diluted basis. This makes it the biggest IPO for a US-based technology company since Facebook in 2012, and the tenth biggest overall US listing in terms of proceeds.  (FT)

 

The latest inflation figures are out -- U.S. consumer prices rose in April but, underlying inflation remained muted.  The Labor Department said its Consumer Price Index increased 0.3% last month, lifted by rising gasoline, rents, and health-care costs.  The persistently low inflation print should help rationalize further stability in interest rates.  (WSJ)

 

The Bend housing market zoomed to another sales price record in April, and so did Redmond, which experienced an even larger jump from a year ago.  The median home sale price in Bend hit $463,000 last month, up $18,000 from March and an increase of more than 11.5 percent from April of last year, according to Beacon Appraisal Group of Redmond.  Redmond’s median home sale price rose to a record $326,000 in April.  April's median sales price in other Central Oregon markets ranged from $510,000 in Sunriver and $428,000 in Sisters to $225,000 in La Pine, $229,000 in Jefferson County/Crooked River Ranch and $250,000 in Crook County.  (KTVZ)


With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.

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