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NWQWM AM Financial Report

US Stocks fell for the first time in three days yesterday as investors weighed the prospects of reopening the economy along with a dismal report on U.S. payrolls.

 

Shares of Peloton shot higher after the company reported revenue surged 66% during the third quarter, as more people purchased its fitness equipment and tuned into its live classes, to try to break a sweat while stuck at home.


Nordstrom plans to permanently close 16 of its 116 full-line stores while moving toward a phased reopening of others, as they tailor their immediate future to the realities of retail in a pandemic.  The Seattle-based company also said it will make changes to how their stores function in a “market-by-market” approach and will move its big Anniversary Sale from July to August.
 
The Oregon Department of Revenue said that emergency stimulus loans going to small businesses throughout the state will not be taxable as commercial activity under Oregon’s controversial new business tax that supports education.  Originally the OR dept of Revenue said the forgiven loans would be subject to the commercial activity tax.
 
With Northwest Quadrant Wealth Management, I’m Tyler Simones

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