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Stocks fell in the first trading session of 2021, as concerns over a post-holiday spike in virus cases compounded with uncertainty over the outcome of the Georgia Senate runoff elections spooked traders.

 

U.S. manufacturing activity picked up at its briskest pace in more than six years in December, extending a recovery in the factory sector that has spurred the strongest pricing environment for goods producers since 2011 as the coronavirus pandemic upends supply chain networks. U.S. construction spending rose to a record high in November, boosted by a robust housing market amid historically low mortgage rates, which could help blunt some of the hit on the economy from raging COVID infections.

 

The Commerce Department said that construction spending increased 0.9% to $1.459 trillion, the highest level since the government started tracking the series in 2002.

 

Flir, the maker of night vision devices, and one of Oregon’s last big tech companies, said they will sell their business to California-based Teledyne Technologies in a deal initially valued at $8 billion in cash and stock. That would represent a 28% premium on Flir’s closing share price last week.

 

With Northwest Quadrant Wealth Management, I’m Tyler Simones

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