Business News


Stocks ended yesterday’s trading session little changed as investors digested employment data while they monitored the latest news from the U.S.-China trade negotiations.

 

The Labor Department reported the US Economy added 260,000 new jobs last month a number that was much better than expected.  This signals that the labor market here in the US remains quite strong even though the economy has slowed a bit.  The unemployment rate also dropped to 3.5% which is a 50 year low.  The only negative in the jobs report was that average wages dropped slightly.


Saudi Arabia has just pulled off the biggest initial public offering in history, raising $25.6 billion by selling shares in its giant state-owned oil monopoly.  Saudi Aramco sold 3 billion shares at 32 riyals in its IPO.   The IPO values Aramco at roughly $1.7 trillion, making it the most valuable publicly traded company in the world ahead of Apple, which is worth about $1.15 trillion.
 
With Northwest Quadrant Wealth Management, I'm Tyler Simones.

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