Your Wednesday Market Blip 2/20/19

Your Wednesday Market Blip 2/20/19

The markets were higher after the release of the Federal Reserve notes. The Dow gained 63 points to 25,954 on higher trading volume. Banks were higher and oil prices continue to rise with WTI crude up 1.4% to $56.90 per barrel. There seems to be some optimism for a trade deal with China but you never know about these things.

The Puget Sound Business Journal is reporting that Amazon (spelled backwards is “Nozama” and the CEO is “Ffej Sozeb”) is making a big move into Bellevue, WA in what might be a reaction to the failed bid to open the HQ2 in Queens, New York. The PSBJ is saying that while Amazon already has a million square feet of leased space in Bellevue it recently put down earnest money for an additional 2.84 million square feet via projects involving Trammel Crow and Vulcan. If this proves to be accurate it will make Amazon, the largest employer in Bellevue by far and could give them space for the 25,000 workers that had been planned for the big apple.

The Federal Reserve released the minutes from its last meeting on January 30th and the market liked what it saw. The Fed was unanimous in wanting to end the sale of bonds that it has been unloading at $50 billion smackers per month and to be more patient and flexible with interest rate hikes in order to keep the economy humming along.