Stocks traded higher yesterday as Apple outperformed after their annual fall new product launch, pushing the major indexes back to levels not seen since late July.
President Donald Trump’s announcement that he will delay implementing higher tariffs on $250 billion of Chinese goods for two weeks as a “gesture of good will.” In a series of tweets, Trump said the tariff hikes — from 25% to 30% — that were scheduled to take effect Oct. 1 will now go into effect Oct. 15.
The wholesale cost of U.S. goods and services rose slightly in August, but inflation more broadly was still quite low and showed little sign of stirring up any trouble for the U.S. economy. The producer price index edged up 0.1% last month. Economists had predicted no increase.
California lawmakers passed a landmark bill on Wednesday that threatens to reshape how companies like Uber and Lyft do business. The legislation, known as Assembly Bill 5 (AB5), was passed in the state Assembly and now heads to Democratic California Gov. Gavin Newsom’s desk. The bill would require gig economy workers to be reclassified as employees instead of contractors.
Seven states, including Oregon, and the District of Columbia have sued the Securities and Exchange Commission, saying the regulatory agency is putting investors in jeopardy by relaxing rules designed to ensure that securities brokers keep the interests of their customers ahead of their own.
With Northwest Quadrant Wealth Management, I'm Tyler SImones