Stocks jumped yesterday as Wall Street focuses on the economy reopening, S&P 500 is now up 40% from March low. Banks, airlines, and hotels all stocks tied to the reopening of states outperformed once again.
Video chat software giant Zoom announced their earnings, beating expectations and giving investors and analysts their first look at how much growth the company has experienced as a result of the coronavirus pandemic and ensuing lockdowns. Zoom has been among the biggest beneficiaries, if you can call it that, of the pandemic. The lockdowns, forced people to gather in front of their laptops, smartphones, and tablets to stay in contact with friends and loved ones, work from home, and attend virtual classes. Zoom saw their revenue jump a whopping 169% year-over-year.
May U.S. auto sales rate was 12.17 million vehicles which was better than the 11.7 million analysts expected.
Wells Fargo, one of the biggest lenders for new and used car purchases in the U.S., sent letters to hundreds of independent auto dealerships last month telling them that the San Francisco-based company was dropping them as a customer, according to people with knowledge of the situation.
With Northwest Quadrant Wealth Management, I’m Tyler Simones