Stocks were solidly higher yesterday adding to gains for the week with Facebook and Amazon leading the gains hitting fresh all-time-highs.
Shares of Lowes and Target both traded higher after both retailers reported better-than-expected profit and sales, with Target reporting digital sales rising 141%.
The Senate passed legislation that could ban many Chinese companies from listing shares on U.S. exchanges or raising money from American investors without adhering to Washington’s regulatory and audit standards. The bill, would require companies to certify that “they are not owned or controlled by a foreign government.” Alibaba, an e-commerce giant based in China, saw its U.S.-listed shares fall more than 2% on the news.
State economists are predicting Oregon’s economy is heading into its steepest downturn since the Great Depression. They expect it will take several years for Oregon to return to the health it enjoyed before the outbreak hit. Economists estimate the state will lose $10.5 billion in lost revenue over the next five years, a massive budget hit that will trigger sharp cuts in Oregon’s spending on schools, health care, law enforcement and other social services.
With Northwest Quadrant Wealth Management, I’m Tyler Simones.