Stocks fell yesterday as President Donald Trump’s latest remarks on trade weighed down market sentiment. Trump said Monday the U.S. was “not ready” to make a deal with China.
National home prices rose 3.7% annually in March, down from 3.9% in February, according to the S&P CoreLogic Case-Shiller home price index. Prices had been seeing double-digit annual gains, but those are gone. The largest annual gain was 8.2% in Las Vegas; one year ago, Seattle had a 13% gain but has dropped dramatically to just 1.6%. The 20-City Composite dropped from 6.7% to 2.7% annual gains over the last year.
Consumer confidence surged in May to a six-month high, spurred by a strong labor market. Higher gas prices and a flareup in trade tensions with China appeared to do little to dampen the optimism of Americans. The consumer confidence index climbed to 134.1 from 129.2 in April.
Data released Tuesday by The Conference Board showed 47.2% of consumers polled in May thought jobs are “plentiful.” That’s up from 46.5% in April and the most confident consumers have been on the labor market since January 2001.
Shares of Beyond Meat surged more than 8% after the alternative meat brand said it has signed a deal to start producing its plant-based meat substitutes in Europe next year. The stock has skyrocketed more than 240% since its initial public offering in early May.
With Northwest Quadrant Wealth Management, I'm Tyler Simones