U.S. stocks closed at record highs yesterday after preliminary coronavirus vaccine data from the drug company Moderna further lifted expectations of a strong economic recovery. Stocks that would benefit from the economy reopening like airlines, cruise lines, banks, and hotels led the way higher.
Shares of Costco are higher after the company announced that they will pay a special cash dividend of $10/share to shareholders on December 11th. The aggregate dividend will be $4.4 billion and will be funded through their existing cash hoard.
In an open letter to Gov. Kate Brown and other state leadership signed by more than 300 restaurant and bar industry members, the Independent Restaurant Alliance of Oregon is asking for various relief measures including financial assistance, COVID-19 testing and clearance to sell cocktails to-go. In the letter, the restaurant alliance asks the state for support, noting that before the start of the pandemic, the restaurant industry employed an estimated 9% of the state’s workforce and that an estimated 75% of Oregon’s more than 10,000 restaurants and bars are in danger of closing permanently.
With Northwest Quadrant Wealth Management, I’m Tyler Simones