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Central bankers will gather at their annual Jackson Hole meeting in Wyoming on Thursday as warning signals from financial markets add to rising pressure to come up with ways to support the global economy.  Investors are anticipating a fresh wave of stimulus measures to tackle flagging growth as the White House considers a new round of tax cuts to boost the economy.  After all, there’s an election year just around the corner, which historically has been the best year in the cycle for stocks.  (FT)

 

Airbnb is readying a public listing for the first half of 2020, according to the WSJ, which also disclosed several of the home-sharing group's financials. Strong first quarter performance got a boost from the 91M nights reserved on the platform, which amounted to $9.4B in total bookings, up 31% from the same period the year before. It also had about $3.5B in cash on its balance sheet as of March 31 and reported a 40% revenue growth rate in 2018 compared with the previous year. Airbnb hasn't yet decided if it will pursue a traditional IPO or if it will follow the unconventional path of Spotify and Slack to a direct listing. (WSJ)

 

The president has cast doubt on any reprieve for US companies selling to Huawei, saying he does “not want to do business at all” with the Chinese telecoms company. The US Department of Commerce was expected to extend a temporary general license for companies to do business with Huawei for 90 days, with an announcement due on Monday. Any decision to allow more time for transactions between Huawei and US groups would be interpreted as an olive branch from Washington to Beijing in the ongoing trade talks.

 

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

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