KBND Morning News

ON AIR NOW

KBND Morning News

6:00am - 9:00am

Contact
Business News


Stocks were lower yesterday, giving back some of the strong gains for June, as Wall Street grappled with disappointing jobs data and a late-day sell-off in tech shares. 


In a huge surprise the US economy actually added 2.5 million jobs last month and the unemployment rate fell according to the Bureau of Labor.  Economists had predicted there would be 7+ million jobs lost.  The unemployment rate dipped to 13.3% from 14.7%. 


 Retailers, restaurants and other service-oriented companies began to recover from the pandemic in May, according to a new survey, but business is still extremely slow and points to a U.S. economy still in a deep recession.  The Institute for Supply Management’s survey of nonmanufacturing companies was 45.4% in May from 41.8% in April. The April reading was the lowest ever.


The Vancouver WA based marketing data broker ZoomInfo raised more than $900 million in its initial public offering yesterday, the region’s biggest IPO ever.  Shares shot up 70% at the start of trading to $36, giving ZoomInfo a market value of more than $14 billion. That makes it the second-most valuable company based in the Portland area, trailing only Nike.
 
 With Northwest Quadrant Wealth Management, I’m Tyler Simones

Hide Comments

News
Traffic

 

 

  • SB Lane of 15th St. CLOSED >< Reed Market Road and Ferguson Road (8/4 – 11/30)
  • Butler Mkt Rd CLOSED >< 27th and Weeping Willow Dr RAB (8/11 – 9/30)
  • Single Lane Closures/Flaggers/Pilot Car at Old Bend-Redmond Hwy/Tumalo Rd Intersection 7am – 6pm (8/9 – tfn) RAB Construction

 

KBND ON FACEBOOK
 
FOLLOW US ON TWITTER