US Stocks snapped a 3 week winning streak last week to finish lower on news that Chinese officials were cutting short their visit to the U.S., dampening hope around trade negotiations between the two countries.
In the past year, since Facebook CEO Mark Zuckerberg’s last official visit to Washington, D.C., lawmakers around the world have scolded the executive for failing to give them face time. But this week, Zuckerberg suddenly made himself extremely accessible to U.S. lawmakers and even President Donald Trump. During a surprise visit to D.C., Facebook was the one requesting meetings, including a Wednesday night dinner between Zuckerberg and a group of senators, some of whom have threatened regulations that could fundamentally change his business. Over the next two days, he met with several more lawmakers, including one who suggested he sell two of Facebook’s most successful acquisitions before regulators potentially try to force a breakup.
The manufacturing sector here in the US has been hurt by U.S.-China trade tensions, helping to drive the Institute for Supply Management’s manufacturing index down to 49.1% in August. That reading below 50% indicates a contraction in activity.
According to the Oregon Employment Department, Oregon workers enjoyed broad wage gains last year, reflecting continued strength in the state’s labor market. The most new jobs, were concentrated at the top and bottom ends of the wage scale. Oregon’s median hourly wage rose 4.5% in 2018 to $17.79. That works out to $37,000 annually for a full-time worker. Accounting for inflation, though median wages were up just 2.0%.
With Northwest Quadrant Wealth Management, I'm Tyler Simones.